As UK Prices Spiral, The Only Certainty Is Stagflation
UK inflation is double digits. Again.
For the second time this year, headline price growth in the UK reached 10%, ONS data out Wednesday showed.
The 10.1% print for September was slightly higher than expected and served as another reminder of the crisis facing the nation's households amid spiraling energy prices, an economic meltdown and political chaos.
"We think we're only fractionally away from the peak now [but] in practice we're likely to see inflation hover in the 10-10.5% range throu
I admire UK Tories and, even, someone like Hunt.
They are so unwilling to raise taxes on the wealthiest they’ll endure electoral defeat likely to lock them out of power for a decade rather than upset their donors. That’s loyalty.
Bookies’ odds on Truss departing in 2022 have lengthened a bit, implies only 63% prbability of her demise this year. “Dear, oh dear.”
I’d like to see Truss given the boot, but not if it means a return of Boris. She’s got procedure in her corner; let’s see whether this crucible makes her a better, more empathetic politician. (FWIW, not betting on it.)
Truss probably won’t last. The Tories will be under pressure to call an early election sometime in 2023. British citizens will be suffering for at least the next 2 years due to very bad policy including Brexit, plus all the other foolish policies since the Tories took office.