The poor old pound. The national currency has taken a pounding since the credit crunch. The exchange rate index (ERI), a measure of sterling's strength against all major currencies, is down over 11 percent since last August.That adds up to higher import prices and a huge boost for inflation.
This chart says inflation.
ReplyDeleteWell it says that the value of the pound has stabilised. Nothing to see here?
ReplyDeletesterling weakness = inflation
ReplyDeleteNick
yes i know, but it's not getting any weaker apparently
ReplyDeleteWoody,
ReplyDeleteThe data ends about a month ago. Sterling is again on the slide.
Alice