U.K. Inflation Unexpectedly Accelerated in January

The transcript discusses the unexpected rise in inflation, driven by clothing and footwear sales, and its impact on the market and the Bank of England's monetary policy. The Bank faces pressure to increase interest rates aggressively, with potential public backlash due to rising living costs. Andrew Bailey's comments on pay rises and the economic impact on middle-income households are also highlighted.

In what ways does Andrew Bailey suggest monetary policy takes time to affect the economy?

What are the potential impacts of inflation on middle-income households as described in the text?