First, the bad news. The lowlight of the latest UK inflation data was that the consumer price (CPI) measure of food price inflation jumped even further in March – to 19.1%. This contributed about 2.2 percentage points to the overall inflation rate of 10.1%. With ‘core’ inflation still stubbornly high (over 6%), food price inflation … Continue reading UK food price inflation set to fall sharply
Category: UK economy
Are Irish incomes really twice those of the UK?
On 14 April the New Statesman published an article which was intended to show that the Irish economy is booming at the expense of ‘Brexit Britain’. This conclusion was backed by some striking graphics, which are still being gleefully shared by the usual suspects. But it was also baloney. People have been taken in here … Continue reading Are Irish incomes really twice those of the UK?
What the IMF is really saying about interest rates
The IMF’s latest World Economic Outlook has received more attention than usual, thanks to some eye-catching work on the long-term trend in interest rates. This has prompted headlines ranging from “Ultra-low interest rates will return in Britain, IMF says” in the Telegraph, to “New IMF prediction is good news for homeowners” in the Mirror. So … Continue reading What the IMF is really saying about interest rates
The OECD’s minimum tax plan is dangerous showboating
On Wednesday, Liz Truss will use the Margaret Thatcher memorial lecture in Washington to call the Organisation for Economic Co-operation and Development (OECD) a “global cartel of complacency” whose high tax policies are holding back growth. I fear she is right. In particular, Ms Truss will warn against the OECD’s plan for a minimum 15 … Continue reading The OECD’s minimum tax plan is dangerous showboating
Plain-speaking Economics 