Selasa, 17 Mei 2022

Backlash over Andrew Bailey's warning that food shortage poses 'apocalyptic' inflation threat - The Times

The governor of the Bank of England is facing a backlash from ministers over his claim that Britain faces “apocalyptic” rises in food prices amid warnings that his language was irresponsible.

Yesterday Andrew Bailey told MPs that he felt helpless because rises in inflation were being driven by a series of external shocks, including Russia’s invasion of Ukraine and supply chain problems caused by lockdowns in China.

He said that Ukraine, one of the world’s major producers of wheat and cooking oil, was struggling to export food while the conflict continued.

Bank of England chief warns over apocalyptic food price rises

“[An inflation risk factor] I am going to sound apocalyptic about is food,” Bailey told MPs on the Treasury select committee. “Ukraine does have food in store but can’t get it out at the

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2022-05-17 10:40:00Z
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