The Bank of England’s incoming monetary policy committee member has said the recent surge in inflation appears to be easing.

Catherine Mann, former chief economist of Citigroup, said the “price momentum” underlying inflation in many countries seemed to be easing.

“For some of the most significant sectors… the momentum of price increases has come off the top, so the underlying price trend, rather than being a spiral up-up-up, has started to taper off,” she said during her appointment hearing