Andrew Bailey: Inflation has fallen ‘faster than expected’
Andrew Bailey, Governor of the Bank of England, said inflation has fallen “faster than we expected” but still warned that more progress would be needed on services inflation.
Speaking at a meeting of Institute of International Finance in Washington, Bailey said central banks around the world were seeing a “good story” on inflation.
“Disinflation — and the UK is part of this — has actually taken place faster than we expected it to,” he said.
The latest figures showed that inflation in the UK fell below two per cent for the first time since April 2021 in September, having peaked at over 11 per cent two years earlier.
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