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Podcast: Beyond Currency
Episode: 1 June 2023 - MPC’s Mann sees core inflation as a “continuing” issue for the UK
Description: The MPC’s most hawkish member Catherine Mann made a speech yesterday in which she again raised concerns about the potential for inflation to become ingrained in the UK economy.
Mann believes that the UK has a more significant issue with core inflation than most of its G7 partners. She said that it was a structural issue where companies, both public and private, are so desperate to protect their profit margins that they pass wage increases directly to their customers by increasing the price of their products.
One classic example of this is the railways, which are supposedly privatized but th...