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UK: central bank governor, 'apocalyptic' food prices

Due to war. Bailey, inflation, and recession at a global level

17 May, 11:44
(ANSA) - LONDON, MAY 17 - The gloomy prophecy launched in a public speech by the Bank of England (BoE) governor Andrew Bailey makes noise in British media. According to Bailey, the UK must prepare for potentially 'apocalyptic' prices in the food market as part of a global trend triggered by the international situation, primarily due to the effects of the war in Ukraine and sanctions.

According to newspapers such as the Financial Times or the Daily Telegraph, Bailey's words entail that money issuing institutions will be able to do little against this drift in the immediate term, that inflation will linger and that a recession in 2023 may be inevitable. (ANSA).

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