The poor old pound. The national currency has taken a pounding since the credit crunch. The exchange rate index (ERI), a measure of sterling's strength against all major currencies, is down over 11 percent since last August.That adds up to higher import prices and a huge boost for inflation.
5 comments:
This chart says inflation.
Well it says that the value of the pound has stabilised. Nothing to see here?
sterling weakness = inflation
Nick
yes i know, but it's not getting any weaker apparently
Woody,
The data ends about a month ago. Sterling is again on the slide.
Alice
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