The Bank of England's Mann stated that corporate pricing indicates that there is still upside inflation risk.

Catherine Mann, a policy maker at the Bank of England, warned that businesses are still reacting to high levels of inflation, indicating that policy makers cannot relax their guard in reducing price pressures. Mann said during a speech in London on Monday that there is still "work to be done" to bring inflation back to the Bank of England's target level of 2%. She pointed out that there is evidence showing that businesses are considering inflation when setting pricing strategies for the next year. "For me as a decision maker, this means that the potential dynamics of inflation continue to show upward risks," she said at an event at King's College London. "In a high inflation environment, there is this asymmetry. The likelihood of businesses raising prices is much higher than reducing prices."