(Corrects name of organisation hosting event)
LONDON Jan 5 Higher inflation is likely to hurt
British consumer spending this year although such an outcome is
not inevitable, Bank of England Chief Economist Andy Haldane
said on Thursday.
Haldane said the effects the sterling's slump since voters
decided in June to leave the European Union was starting to
trickle through in to higher shop prices.
"That will in turn produce something of a squeeze on the
spending power of consumers and may lead them to throttle back
somewhat in their spending plans," Haldane said at an event in
London hosted by the Institute for Government, a think tank.
"It might not happen, they might choose to run down their
savings. But it's possible, indeed I'd say likely that there
will be something of a slowdown."
(Reporting by David Milliken and Ritvik Carvalho, writing by
Andy Bruce, editing by William Schomberg)