Published on
28 November 2023
Jonathan explores the drivers of UK inflation since 2020 by applying the Bernanke and Blanchard (2023) model to the UK. Using this model he shows the role of wages, labour market tightness, energy prices, food prices, shortages and inflation expectations in explaining recent UK inflation. He reflects on past MPC decisions and gives some thoughts for future monetary policy. Under current conditions, he sees limited scope for moderation in rates soon.
UK inflation since the pandemic: How did we get here and where are we going? - speech by Jonathan Haskel
Speech slides