Bank of England Governor Andrew Bailey said in an interview published on Monday that inflation was slowing and an expected pick-up in price growth later this year was unlikely to embed longer-term inflation pressures in the economy.

Part of the increase in inflation was due to regulated price increases - for items such as domestic energy and water - while the sluggish state of the economy was also likely to act against inflation, Bailey told BusinessLive.

"The context is not really supporting the view that we will get more persistence, so we looked through that," he was quoted as saying.

(Reporting by Andy Bruce; Writing by William Schomberg; Editing by David Milliken)