David Smith writes: “THE INFLATION BALOON’S STILL UP IN BRITAIN”:
Britain has become, once more, a high-inflation(!) economy. Normally as a nation we like to top any European league. But when that league is for inflation rates across Europe, that is more than a little embarrassing.
New Eurostat figures, which the Labour party was quick to pick up on, show that last month Britain had the highest inflation rate in the European Union. Yes, of all 28 EU members states, Britain’s inflation rate was the highest.
Britain’s 2.7% rate last month was more than double the EU (1.3%) and eurozone (1.1%) averages. Previously high-inflation EU countries, which included Hungary, Poland, Romania and the Netherlands, have come back down to earth. While Britain’s rate is close to 3%, more than half of the members of the EU – 15 in all – have prices rising at an annual rate of 1% or less.
Now, who´s ‘suffering’ more: The UK or 15 of the EU members that have inflation below 1%?