Public finance geeks have been even more excited than usual about the latest statistical bulletin from the Office for National Statistics (ONS), which includes new data on a balance sheet aggregate known as ‘public sector net worth’. What is this, and why does it matter? Public sector net worth, or PSNW, is a relatively comprehensive … Continue reading How valuable is ‘public sector net worth’?
UK food price inflation set to fall sharply
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
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