Firms hit back at Bank governor in prices row

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Firms hit back at Bank governor in prices row
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Wetherspoon boss Tim Martin says bank managers are 'breathing down the neck' of business owners.

Business leaders have hit back after the Bank of England governor said they should think twice before raising prices to cope with inflation.

"I would say to people who are setting prices - please understand, if we get inflation embedded, interest rates will have to go up further and higher inflation really benefits nobody," he added.But Mr Martin said while businesses may "want to follow his advice, many won't be able to" and warned there could be price rises at the pub chain.

The low-cost food and drink chain, which has a network of 843 pubs across the UK and Ireland, reported a 5% rise in sales over the six months to 29 January compared with the same period in 2019.

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