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Inflation will abate as supply meets demand, says UK PM Johnson – Metro US

Inflation will abate as supply meets demand, says UK PM Johnson

FILE PHOTO: People shop at a market stalls, amid the
FILE PHOTO: People shop at a market stalls, amid the coronavirus disease (COVID-19) outbreak, in east London

LONDON (Reuters) – Inflationary pressures will abate as supply improves to meet demand, British Prime Minister Boris Johnson said on Tuesday.

Asked during an interview on LBC about the risks of inflation due to the government’s push towards higher wages, Johnson said: “What you are seeing is demand, growing demand sucking in gas from Russia or wherever, you are seeing demand for lorry drivers globally and that has an inflationary effect and as that clears, as supply meets demand then inflation abates.”

(Reporting by Kate Holton, writing by Kylie MacLellan, editing by Paul Sandle)

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