Business leaders warn of ‘stagflation’ as pound falls



Businesses have warned of the risk of ‘stagflation’ after inflation jumped to a two-year high following post-Brexit slump in the value of the pound.
Rising costs for clothes, restaurants and hotels have pushed up the cost of living, with the Consumer Prices Index (CPI) hitting a higher-than-expected 1.0% in September, up from 0.6% in August.
Economists had expected an increase of 0.9%.
The Office for National Statistics (ONS) said there was “no explicit evidence” that sterling’s slump had pushed up prices of consumer goods, but Michael Martins, Economist at the Institute of Directors, said... read more

 
18 October 2016 in Hot News, Views: 32
Source: Scotsman
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