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It's a bit of a misleading stat - the EU's avg. inflation is brought up by the poorer countries. If you compare the UK to France, Germany, Italy (the normal poi
by pasabagi 4y ago
It's a bit of a misleading stat - the EU's avg. inflation is brought up by the poorer countries. If you compare the UK to France, Germany, Italy (the normal points of comparison, in other words), it's obviously doing fairly badly[0].
It's also not the only stat that looks bad. Foreign direct investment, for instance, fell off a cliff. Exports have basically plateaued, probably because it's actually really difficult to get things in and out of the EU now.
On a more fundamental level, leaving the single market is essentially declaring a trade war on your own economy. It's never going to be a good economic proposition, and the hard brexit we've ended up makes it pretty onerous to do anything over EU/UK borders.
[0]: https://uk.news.yahoo.com/uk-inflation-compare-european-countries-162510952.html https://uk.news.yahoo.com/uk-inflation-compare-european-coun...
- makomk 4y agoNo, it really is only France and a couple of smaller countries which have that comparatively low inflation - Germany was 10.9%, Italy 9.4%. That headline average inflation figure is pretty representative. (Also, it looks like one of the countries bringing up the average was the Netherlands which is definitely not considered one of the poorer countries.) What people do often point to is the interest rates Germany's government pays to borrow money, which are rather lower than the UK (and lower than the rest of the Eurozone). Basically, the only comparisons that get made are the ones that make the UK look worse.