Inflation and the Economy

UK factory gate inflation is not the whole story. Thanks to the destruction of British manufacturing capacity in recent years a huge range of clothing, footwear, electronics, household and other goods sold in this country today comes from China. Their domestic inflation is running at 8% and rising however, so the fact is that we are beginning to import this into our own economy as well. Factor in a devaluation tariff of 7% since the first of the Bank of England’s rate cuts last year and the result is a picture that says it is going to get a lot worse before it gets better.

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