When the UK economy is so sick that it may be "patient of Europe" again?

Author : Chanapa Manapensiri Bnomics-Bangkok Bank

This is probably the time when manyligaz555countries experience the highest inflation in years. especially in major economies such as

Germany inflation 7.6%

India inflation 7.04%

Canada inflation 7.7%

In Europe, inflation is 8.6%.

US inflation 8.6%

But another country that appears to be experiencing heavier inflation than the rest is the United Kingdom, which faces 9.1% inflation, the highest in 40 years, and the Bank of England expects it to be too high. Over 11% in the upcoming fall.

When inflation is soaring Of course, British consumers are faced with "Famine" caused consumer confidence to drop. As a result, many analysts have warned that these will be a harbinger of a recession in the UK economy. Until many people think of the picture that the United Kingdom used to be called. "Patients of Europe" in the 1960s-1970s

Why is the UK economy experiencing higher inflation than others? And it seems that the economy is getting sicker than many countries, and it may return to being the patient of Europe again.

former patient of Europe to the present new patient

Back in the 1960s-1970s, the UK's economic growth has been pretty bad since World War II. Inflation is at a very high level. coupled with low wages compared to inflation. As a result, workers in the industry caused a massive strike.

Sounds like the situation back then was very similar to the present. The British people are faced with the high cost of living. Earnings have slowed to the point of protests calling for a wage hike.