currencies dont experience inflation... it's prices which inflate a currency is "devalued" by, eg., money printing, only in the sense that eventually the new c

currencies dont experience inflation... it's prices which inflate a currency is "devalued" by, eg., money printing, only in the sense that eventually the new cash drives prices up when speaking about "inflation" we're always talking about some sets of prices... even in the case of "general inflation", this does not mean global prices for all products -- it means a certain subset, eg., CPI so the GBP can maintain its value in many senses whilst the person-on-the-street experiences CPI.. the value of GBP isnt only in "general purchasing power relative to market relative to baskets" trivially, arbitrage opportunities do exist, markets aren't perfectly efficient.. so there can be cases where UK CPI inflation is "ahead of the global curve"