BoE: Inflationary pressures ‘more persistent than expected’

Pill said while at first read this looks like a rare piece of good news, viewed through the lens of efforts to return inflation to target it is a “mixed blessing”. 

He added: “Indeed, the association with the mid-1970s is not reassuring in that respect.

“Tight labour markets support wage growth, currently running at rates above those we typically deem as consistent with the inflation target.”

ruby.hinchliffe@ft.com