It’s higher than elsewhere because of the Truss mini-budget and Brexit.
Comment on UK inflation falls sharply to 4.6%
Hyperreality@kbin.social 7 months agoTBF soaring energy prices are one of the main contributors to inflation. Not that much the tories can do about that.
Europe is in a proxy war with Russia. It's unreasonable to expect that to have no consequences.
frankPodmore@slrpnk.net 7 months ago
Hyperreality@kbin.social 7 months ago
It's currently lower than the EU average.
frankPodmore@slrpnk.net 7 months ago
Fair enough, thank you for the correction. It was higher than elsewhere because of the Truss mini-budget and Brexit and still is higher than it otherwise would’ve been without those factors.
SomeoneElse@lemmy.ca 7 months ago
Energy firms have made record profits since the war started. Perhaps the government could have taxed them more or put limits on how much wealth they could amass while more and more people choose between eating and heating? Idk. I’m not an economist or a politician, but I’m pretty sure there’s something the tories could have done better…
Hyperreality@kbin.social 7 months ago
There's loads the tories could have done better, but when it comes to inflation that isn't exactly spectacularly low in the rest of Europe either.
I did a quick google, and now that inflation's dropped, the UK's actually below the EU average. Of course, that's cold comfort in a country that's been suffering from grossly corrupt governance and an ideological obsession with austerity for over a decade.
Also, if you're going to blame the tories for high inflation, that also means you have to give them credit for reducing it, which is something I don't agree with either.