Bank of England economist says people need to accept they are poorer

Thomas Moore, senior investment director at Abrdn, told the BBC Mr Pill was pointing to one-off factors driving up inflation and saying “don’t blame us, look at these one-offs and actually we need you to help us to get [inflation] down to 2% because the sooner that all of you expect lower inflation in terms of your wages demands and the settlements you achieve with your employers that will help bring inflation down”.