UK Times on BoE's Pill speech - 4 reasons inflation will persist

The UK Times is gated. Its given its take on the speech from Bank of England chief economist Huw Pill.

• Inflation may persist even if energy prices fall because the labour market is close to capacity and companies can afford to raise prices, a senior Bank of England official has warned.
• Huw Pill, the Bank’s chief economist, said that higher natural gas prices, a tight labour market and global supply issues had created “the potential for inflation to prove more persistent”.

• Even if gas prices were to fall, inflation could remain high because households and businesses would try to protect their incomes from higher energy bill

Summary of Pill's speech is here:

• BOE's Pill: Distinctive domestic factors could make UK inflation more persistent

And, this for more:

• BOE chief economist Huw Pill speech - full (hawkish) text

At least there's a decent UK #1 at the moment