A post by @FirstSquawk on X.
BOE'S LOMBARDELLI: ENERGY SHOCK PRICE EFFECTS LARGER AND MORE PERSISTENT
@FirstSquawk on X
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Bank of England policy maker Lombardelli said the price effects of the energy shock have been larger and more persistent than expected. The remarks signal that UK inflation pressures from energy costs are proving stickier than policymakers anticipated. That matters because it raises the bar for rate cuts and keeps the central bank's inflation fight alive. Watch upcoming UK inflation prints and BoE commentary for confirmation of how much of the energy pass-through is embedding in core prices.
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Lombardelli, Bank of England