U.K. Inflation Eased in November, Following Global Trend
Wall Street JournalJUL 2022
A slower rate of inflation might seem like a win to those in the government, but it doesn't do anything to provide relief to people in the real world who continue to face a cost of living crisis. Ahead of the holiday season, the price of celebratory beverages, not to mention food and other basic commodities, is still way beyond the means of most Brits.
Defeating inflation is a painful process but a necessary one. Despite the stubbornly high prices of certain commodities, a dip in the cost of motor fuels is a reassuring sign that the worst has come and price pressure is easing. The BoE is doing what it can to solve a problem with many external causes, and through its efforts, the UK is now ready to move on to the next phase.