Disinflation Won’t Bring Relief For Britain’s Economy
The political tumult of 2022 is thankfully behind us, but there is no way out of recession for the UK economy.
There are other big problems to deal with.
Photographer: New York Daily News Archive/New York Daily NewsIn a year in which Britain has had three prime ministers and four Chancellors of the Exchequer, global inflation and supply side problems have been compounded by the tumult in UK politics. Now that things have settled down a little, Bloomberg Opinion’s Therese Raphael speaks with Bloomberg Economics Senior UK Economist Dan Hanson on what to expect next year.
Therese Raphael: Dan, we’re not hearing the word “transitory” bandied about these days, but there are signs inflation has peaked. The annual CPI price index fell to 10.7% in November from a peak of 11.1% in June. What will disinflation look like over the next year?