Bank of England's Monetary Policy Committee (MPC) member Megan Greene said on Wednesday that today's UK CPI release has been encouraging. The official added that the BoE is much closer to the target than it was even just a few months ago.
Greene noted that bringing inflation to target has been a bumpy ride, it was always going to be, and the last mile is going to be the hardest.
In addition, she highlighted that conflict in the Middle East does pose a risk.