LONDON (Reuters) -Britain’s opposition Labour Party is not looking to change the Bank of England’s 2% inflation target if it wins the next election, a spokesperson said on Sunday, clarifying earlier remarks made by party leader Keir Starmer.
Britain has the highest inflation of any of its international developed-economy peers, measured at 8.7% in May. That is well above the 2% target set by the government for the independent BoE to deliver.
“We are not looking at changing the inflation target and will not be looking at it,” a Labour spokesperson said.
Earlier, when asked in a BBC interview about the prospect of changing the target if Labour won an election expected to be held next year, Starmer had said it was something the party would address closer to the vote, and while taking into account the state of the economy.
(Reporting by William James and Elizabeth Piper; Editing by Hugh Lawson)
