off-the-wire

BoE's Mann fears Red Sea turmoil could worsen UK inflation outlook

Kitco Media
By Reuters
Published:
Updated:
Reuters

LONDON, Feb 8 (Reuters) - Bank of England rate-setter Catherine Mann said on Thursday she worried that supply chain disruption from turmoil in the Red Sea could quickly feed into companies' pricing, exacerbating Britain's inflation problem.

"I worry that such an upward inflation shock coming on the heels of the recent high inflation environment will be more swiftly incorporated into firms' costs and prices, exacerbating upside momentum," Mann said in a speech to the Official Monetary and Financial Institutions Forum (OMFIF).

Reporting by Andy Bruce and Suban Abdulla; editing by David Milliken

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