5 ms·

With Brexit uncertainty the current GBP inflation is over 20%. 3% is a drop in an ocean on that.

• parenthesis 10y ago
  The UK doesn't import everything.
  • brador 10y ago
    Whether you like it or not the USD is the world peg right now and a currencies worth in USD is its true measure of inflation. What the national bank prints is negligible in comparison.
    • johansch 10y ago
      They seem to be in full self denial mode right now.
    • isostatic 10y ago
      I'd suggest using international drawing rights, a basket of currencies that mean fluctuations in the dollar are evened out
  • johansch 10y ago
    No, but quite a lot. "Overseas Trade Statistics. In July 2016 the value of exports (EU and Non-EU) decreased to £23.9 billion, and imports (EU and Non-EU) decreased to £39.7 billion, compared with last month. Consequently the UK is a net importer this month, with imports exceeding exports by £15.9 billion." https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/Pages/OTS.aspx https://www.uktradeinfo.com/Statistics/OverseasTradeStatisti...
    • johansch 10y ago
      So, (brits), why did you downvote this without commenting? (It went from +3 to 0.)
      • martinald 10y ago
        I would guess because the UK economy is worth ~£2tn. £150bn of imports raising at 20% isn't a huge impact (around 1-2% - not a huge deal in the grand schemes of things). PS: I didn't downvote you.
        • johansch 10y ago
          That's because of the London banking. Which is now moving th Frankfurt.
          • blibble 10y ago
            fat chance, some back office operations will move (as little as possible), and the lucrative front office work will remain in London as that's where the clients are
  • walshemj 10y ago
    60% of food and petrol (gas) is priced in dollars
• TheGrumpyBrit 10y ago
  If the UK is in as much trouble as the naysayers seem to think, that 3% counts for more than ever, since cash will be tight.