The Bank of England. ‘Britain is officially the worst performer among the G7 so far this year, held back by high inflation that is putting consumers under pressure.’
Credit: Hannah Mckay/Reuters

This week Britain slumped to the bottom of the GDP growth rate league table of advanced economies. Along with Italy, Britain is officially the worst performer among the G7 so far this year, held back by high inflation that is putting consumers under pressure. The cause of that high inflation is primarily the knock-on effect of the weaker pound, which dropped by 20% immediately after the Brexit referendum result last year.

Just because the world didn’t change on 24 June 2016 doesn’t mean that it was never going to change. The time-lag between cause and effect is a cornerstone of economic behaviour. This basic dynamic takes into consideration the notion, observable over decades of analysis, […]

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