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Cost of living: Bank of England chief hits back at criticism it has 'stoked inflation'

Summary by Ground News
Britain has the highest inflation of Europe's big economies and in the Group of Seven. Andrew Bailey said he "rejected" the argument made by former governor Mervyn King, who said too much money printing during the pandemic was a major cause of the high inflation. Most economists say widespread supply chain disruption and increased spending on goods are main culprits.

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The Independent broke the news in London, United Kingdom on Monday, May 23, 2022.
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