Bank of England policymaker warns of ‘greedflation’ risk to consumers

Catherine Mann concerned firms could take advantage of people's willingness to tolerate higher prices

A senior Bank of England policymaker has expressed concern that UK companies could be exploiting the cost of living crisis to push through inflation-busting price increases - a phenomenon widely known as greedflation".

Catherine Mann, one of the nine members of Threadneedle Street's monetary policy committee, said she was concerned about the ability of firms to take advantage of consumer willingness to tolerate higher prices.