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Curious Crow
Garys Economics
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Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Inflation WILL Fall This Week" video.
One thing you didn't tell us was that Sunak would tap out and call a general election for July. Lol.
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The average speed at which prices are still increasing will be lower relative to those measured 12 months ago. And Sunak will claim that it's his policies that bought the Headline (for media consumption) Rate of Inflation down. But prices will be still be higher than than they were 12 months ago and not falling*. Your purchasing power in every pound you spending will still be falling. And certain goods and services will still go up in price. For example, the greater average rainfall this year has reduced the amount of food crops British farmers can grow, which means food prices will still be increasing faster. And it should be remembered that those with no or few assets will have higher personal rates of inflation relative to the asset wealthy, because they have less income from assets. The real growth in Asset prices is still higher than that in real wages. So the ALICEs - the asset limited, income constrained employees - will suffer *more from inflation than the asset wealthy because of wealth inequality. ALICEs are less able to offset the impact of inflation, as a higher amount of their purchasing power is being eroded by it. So don't be fooled by Sunak claiming "Mission Accomplished" like George Bush claimed after the Iraqi War. Sunak's polices are just as successful for the UK, as Bush's were for Iraq, economically and politically. The creation of an Economic Apartheid is still going on in the UK.
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