LONDON: Bank of England Governor Andrew Bailey said on Tuesday there was so far no strong evidence that rises in prices paid by manufacturers were feeding through into the consumer prices which serve as a target for the British central bank.

"We do hear those stories about input prices but we are not yet seeing strong evidence of passing-through into consumer prices," Bailey told lawmakers in Britain's parliament, echoing recent comments he has made about the inflation outlook.

"But I can assure you that we will be watching this extremely carefully and we will take action when we think it's appropriate to do so, no question about that."