BoE's Pill: The new PM's energy bills support could bring inflation down

Pill's remarks to the Treasury committee come amid numerous reports that Liz Truss is set to announce plans to place a cap on wholesale energy costs, effectively cancelling further hikes to gas and electricity bills. "One of the things that does seem to be under consideration is a change to the relationship between gas prices and retail gas prices in a direction that will lower headline inflation, relative to what we were forecasting, where that relationship was based on the mechanics of the Ofgem price gap," he said.  "So I think that in the short term it would tend to weigh on infla...