LONDON, March 24 (Reuters) - British businesses should
consider official forecasts showing inflation will fall this
year when setting their prices, Bank of England Governor Andrew
Bailey said on Friday.
"When companies set prices, I understand that they have to
reflect the costs that they face," Bailey told BBC Radio.
"But what I would say, please, is that when we are when we
are setting prices in the economy and people are looking
forward, we do expect inflation to come down sharply this year
and I would just say please bear that in mind.
Bailey went on to say he did not have evidence that
companies were putting prices up more than necessary.
(Reporting by David Milliken and Farouq Suleiman; editing by
William James)
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