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BoE's Pill says UK inflation pressures from job market lower than in 2022
LONDON, May 14 (Reuters) - Bank of England Chief Economist Huw Pill said weakness in Britain's labour market means the persistence of inflation pressure caused by the Iran war is likely be weaker than after Russia's full-scale invasion of Ukraine in 2022.
However, Pill also said at an event hosted by NatWest on Thursday that it was not clear that the labour market was as loose as when there were oil price spikes in 2008 and 2011, which did not lead to second-round effects on inflation.
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