LONDON, May 12 (Reuters) - Bank of England Chief
Economist Huw Pill said on Friday that high inflation in Britain
did not appear to be driven by businesses seeking to widen their
profit margins, unlike in the euro zone where there had been
signs of this.
Pill told a BoE webinar that at an aggregate level there had
not been much change in British companies' profit margins, and
that price rises largely reflected businesses passing on their
higher energy costs.
"That does, a little bit, distinguish us from developments
in other jurisdictions. In particular, in recent weeks and
months there has been quite a lot of commentary about that in
the euro area," he said.
(Reporting by David Milliken
Writing by William Schomberg)
Reuters Messaging: william.schomberg.reuters.com@reuters.net))
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