In recent months, official interest rates have been cut worldwide as inflation has fallen sharply from the peak of over 9% following the end of the Pandemic and Russia’s invasion of Ukraine, which drove up global food and energy prices, see chart 1. Global price inflation has fallen to the rates before the Pandemic and …
Cost of living crisis awaits the new Prime Minster
The new Prime Minister has taken office during a historic economic, political, and social crisis for the UK and world economies. Just days ago, Russia’s president, Vladimir Putin, shut down the Nord Stream One pipeline carrying gas to Germany – and said that the pipeline would not be reopened until sanctions against Russia are removed. …
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Is the UK already in recession?
As the campaign to become the leader of the Conservative party and therefore Prime Minister of the UK is whittled down to the final two candidates, the economy continues to struggle. It has shown paltry growth since the crisis of 2007/8, mainly down to poor productivity. ‘Levelling up’, Brexit, none of these has changed that …