BoE’s Bailey: Food prices worry UK

BoE Governor Andrew Bailey on Monday said that food prices are a major worry for the UK and developing world, reported Reuters.

Speaking alongside Bailey at a House of Commons Treasury Committee, BoE’s Michael Saunders said that inflation would still be well above the bank’s target this year even if the BoE had tightened policy sooner, a sentiment with which BoE Deputy Governor Ramsden agreed.

Bailey earlier said that he is not at all happy about the inflation outlook and that it is a bad situation to be in.