BoE's Pill says he shouldn't have told people to accept being poorer

You may recall the truth bomb from Bank of England Chief Economist Huw Pill back in late April:

• BoE's Pill tells Brits to accept they are poorer, stop trying for higher wages

Pill spoke on Monday and dialled back his remark:

• Huw Pill, the Bank’s chief economist, acknowledged that he should have chosen his words with more care after telling British families to “accept that they’re worse off” following a surge in inflation. In an online Q&A session on Monday, Mr Pill said: “If I had the chance again to use different words, I would use somewhat different words to describe the challenges we all face. “I think the viral response to my words perhaps hasn't been very helpful to our communication or our understanding of the situation.”

(Via the UK Telegraph, may be gated)

Pill made more substantive comments also, Greg had the full rundown here:

• BOEs Pill: BOE raise rates last week because too much momentum in the economy