UK energy bill help could lower inflation, BoE’s Pill says
© Reuters. FILE PHOTO: Electricity pylons are seen near Ashford, Britain, August 15, 2022. REUTERS/Toby Melville
LONDON (Reuters) – A new cap on British household energy bills touted by new prime minister Liz Truss could lower the path of inflation relative to the Bank of England’s forecasts published in August, BoE chief economist Huw Pill said on Wednesday.
“Net-net on the implications for headline inflation in the short term, I would expect that to see a decline,” Pill told lawmakers.
Pill said the implications for monetary policy however were unclear.
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