Rishi Gets 2%
Say congratulations to the UK: Inflation's back to 2%.
Headline CPI matched the Bank of England's target in May, data released on Wednesday showed. It was the first mandate-consistent headline print since mid-2021.
Food prices fell from the prior month and goods prices are now deep into deflation on a 12-month basis. The -1.3% YoY reading on the goods gauge was the largest decline in nearly eight years.
As the figure shows, core price growth's still running well above target, at 3.5%, altho
UK reports CPI and CPIH, the latter includes OOH (owner occupier’s housing cost) as a 16% weight. May CPI was 2.0%, CPIH was 2.8%, OOH was 6.7% YOY or 0.3% 0.4% 0.6% MOM. All goods was -1.3% YOY 0.0% MOM, all services was 5.9% YOY 0.6% MOM. So looks generally rather similar to US CPI trendwise. https://www.beta.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/may2024
Based on some polling I have seen Mr ‘Sunak’ is going to lose his own seat in parliament. And unlike trump/biden we are talking 2 weeks until voting, so the polling actually means something. Tories ate facing an historic wipeout.
Just curious, what is Labour’s plan to reduce inflation and deal with the immigration crisis?
I read that 882 people crossed the Channel from France to England yesterday and the UK is spending $8M GBP/day to house illegal immigrants.