LONDON, Oct 20 (Reuters) – Bank of England (BoE) Governor Andrew Bailey said on Friday inflation data for September was not far off the central bank’s expectations and that the slowdown in core inflation was “quite encouraging.”
Overall inflation in the United Kingdom maintained its August rate in September, at 6.7% year-on-year, when a slowdown was expected, while core inflation increased. established at 6.1% compared to an increase of 6.2% in August, according to data published Wednesday by the National Statistics Office (ONS).
In an interview with the Belfast Telegraph published on Friday, Andrew Bailey said the central bank was not expecting a “big change” in the September data anyway.
“It’s not far from what we expected. Core inflation has fallen slightly compared to what we expected and that’s quite encouraging,” he said.
Andrew Bailey added to expect a “significant fall” in headline inflation when the October data is published, as the sharp rise in energy prices in 2022 would no longer be taken into account year-on-year. .
On the labor market, Andrew Bailey said wages were a concern for the central bank, noting that wage growth was inconsistent with the inflation target. (Andy Bruce report, French version Claude Chendjou, edited by Blandine Hénault)
©2023 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.