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UK Gets Another ‘Terrible,’ ‘Crushing’ Inflation Report
There was more bad economic news out of the UK on Wednesday, when inflation data for April showed price pressures failed to abate as quickly as economists hoped.
Out of three-dozen forecasters who ventured a guess, not a single one put headline CPI at 8.7%, where it ultimately settled last month.
April's was the first single-digit print since August, but there was little to celebrate. The decline came courtesy of base effects and the rest of the figures were nothing short of alarming. Core pri
Somehow I can’t help thinking that if they had left well enough alone (no Brexit) the current inflation would not have been so high. Alas, a stiff upper lip may still be the fashion, but it’s not going to change anything.
Voting for Brexit was the most idiotic decision ever made by the British electorate. 85% of fixed mortgages in the U.K. have yet to be recalibrated to the new higher rates. AndHousehold bills have doubled in some instances and that’s before we talk about refin car leases (94% of new cars are purchased on a loan / lease arrangement). Discretionary spending in the U.K. will be deleted in the economic textbooks in the U.K. for the next few years. Productivity is crap and we are in for a shit storm
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