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© Reuters. File picture: Jon Cunliffe, Deputy Governor of the Bank of England, delivered a speech in the Bank of England Financial Stability Report in the City of London on June 27, 2017. REUTERS/Jonathan Brady/Pool
LONDON (Reuters)-Bank of England Deputy Governor Jon Cunliffe said that as the economy reopens from the blockade, the rise in UK inflation is a bump, and the Bank of England will be in a new forecast next month. Consider its possible persistence.
“This (economic) is not something you can close and reopen without obstacles,” Cunliffe told CNBC TV on Wednesday.
“We are seeing a surge in demand. We are seeing some supply tightening that is driving inflation,” he said, adding that the continuity of these driving price growth is a big problem for the Bank of England.
Earlier, official data showed that UK consumer price inflation rose more than expected to 2.5% in the 12 months to June, further above the Bank of England’s 2% target.
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