Scott Gardner
ON THE RECORD · 5 verbatim quotes · every quote source-verified
“unlikely to convince the Bank of England to hike interest rates just yet,”
Scott Gardner · said 2026-09-16 · reported 2026-09-16
Gardner said in a note that the inflation increase was unlikely to convince the Bank of England to hike interest rates just yet but could raise fresh concerns among policymakers.
“Food prices have started to eke upwards after fertilizer costs increased earlier this year but other pressures could emerge if businesses decide to pass their higher costs on,”
Scott Gardner · said 2026-09-16 · reported 2026-09-16
Gardner said food prices have started rising after fertilizer costs increased and other pressures could emerge if businesses pass on higher costs.
“AI is also an important but often overlooked factor at play in the inflation picture as demand for metals, semiconductors and other supply-chain goods grows. For now, it is too early to tell if the energy price spike is evolving into a broader inflation shock but fears will be growing. Much still depends on the duration of the war in the Middle East.”
Scott Gardner · said 2026-09-16 · reported 2026-09-16
Gardner said AI demand is an overlooked inflation factor and it is too early to tell if the energy price spike is evolving into a broader inflation shock.
“The U.S.-Iran conflict began over six months ago but higher energy costs are still filtering through to business input prices and household spending,”
Scott Gardner · said 2026-09-16 · reported 2026-09-16
Gardner added that the U.S.-Iran conflict began over six months ago and higher energy costs are still filtering through to business input prices and household spending.
“Core and services inflation were relatively resilient in August, but industry surveys suggest firms are facing renewed cost pressures, particularly in manufacturing and services sectors. Wage growth is muted in the private sector and the U.K. labour market remains soft which could put pressure on consumer spending in the coming months.”
Scott Gardner · said 2026-09-16 · reported 2026-09-16
Gardner noted core and services inflation were resilient in August but firms face renewed cost pressures and the labour market remains soft.