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U.K. inflation jumps 9.4% in June to fresh four-decade high

Jul. 20, 2022 2:39 AM ETEWU, FXB, EWUS, FKU, HEWU, DGBP, UGBP, FLGBBy: Gaurav Batavia, SA News Editor13 Comments
  • June U.K. CPI: +9.4% Y/Y vs. +9.3% forecast, +9.1% prior.
  • +0.8% M/M vs. +0.7% forecast, +0.7% prior.
  • Core CPI: +5.8% Y/Y vs. +5.8% forecast, +5.9% prior.
  • +0.4% M/M vs. +0.5% forecast, +0.5% prior.
  • Rising prices for motor fuels and food made the largest

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Comments (13)

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Nospheritu profile picture
I guess my question is, did every country in the world use the exact same stimulus measures during Covid and therefore we're all getting the same results, or is this reflecting commodity prices that central bank rates have no control over? I feeeeeel like it's the second thing, and if that's the case we're stuck waiting on supply chain / ukraine situation to resolve and should maybe cool it with the rate hikes.
@Nospheritu I would think the sanctions are a major contributing factor to inflation. That scheme has set in motion trade shifts that are irreversible and it seems unanticipated.
@Nospheritu in 1971, Milton Friedman wrote a letter to Arthur Burns (then FED boss), warning of expansive monetary policy. A few years later, inflation hit. Burns blamed special effects such as high oil prices and crop failures, certainly not monetary policy (how could it possibly be?). That's a lie, of course, reapplied by our central banks today. Special effects can drive prices, but single prices, not the overall pricing level, monetary policy (i.e. money printing) does. Central banks lie, you lie, you're wrong, but I guess you're also long (why else would you lie?). Long live the money printers, long live the liars.
@Nospheritu yes they did use same stimulus measures almost everywhere (rate cuts, QE, helicopter money, furlough)... some are still using them such as ECB - not saying commodities/sanctions are not also having an effect (they are), but inflation was hot a year ago already (i.e. before the war)
Stefan Redlich profile picture
As long as people still buy stuff on IG and OF and make people rich, there is no real crisis among the masses
MoneyPig profile picture
Importantly, none of this is reflected in discount rates. Which would be 15% to 18%. If anything the artificial, considerably below inflation rate borrowing by western governments is preventing pricing consideration for inflation that seems not transitory.
and central banks couldn't care less 🤣🤣 > it's all Putin and China.
SuperPac profile picture
Nice !! I hope inflation in Ukraine is low though.
Now let me log on to TWTR and virtue-signal for 33 hours.
So cringe.
@SuperPac That Biden fella has really done it this time. Managed to increase gas prices and inflation in the whole world.
SuperPac profile picture
It's not just him, bruh. Yeah Burisima 10% Biden is a corrupt, incompetent, racist, warmonger (just hear his old speeches - they are there you tube) but some of the European countries have gone mad too - look at Germany for instance. Govt ministers are telling people how long to shower !!
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