BoE’s Mann: Service prices still have a long way to go

Bank of England’s policymaker Catherine Mann suggested that prices in the services sector still remain elevated.

Key Quotes

UK economic prospects remain pretty modest.

UK economy won't grow by much more than 1%. 

Inflation news has been good. 

Service prices still have a long way to go. 

Deceleration in prices might not quite get us to 2% inflation target in medium term.