this post was submitted on 03 Feb 2024
23 points (76.7% liked)
Europe
8484 readers
1 users here now
News/Interesting Stories/Beautiful Pictures from Europe ๐ช๐บ
(Current banner: Thunder mountain, Germany, ๐ฉ๐ช ) Feel free to post submissions for banner pictures
Rules
(This list is obviously incomplete, but it will get expanded when necessary)
- Be nice to each other (e.g. No direct insults against each other);
- No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
- No posts linking to mis-information funded by foreign states or billionaires.
Also check out !yurop@lemm.ee
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I think the gist of it is, it's somewhat worse for the UK. And that wouldn't have been the case without a few home-made problems, mainly brexit which has quite some impact on trade and economics. I think it's fascinating that these kind of politics only cause a few percent points of inflation more than other countries have.
It hasn't caused a few percent of inflation, our inflation has been pretty much identical to that of France's, which is the most similarly sized economy in Europe.
The UK proportionally importing more food, as well as being more susceptible to energy price changes due to extremely poor gas storage facilities, have been the main drivers of additional inflation in the UK.
Brexit will have 100% had a negative impact, but it's not even in the top 3 of inflation drivers, and certainly isn't adding multiple percentage points.
These doom and gloom submissions paint a completely inaccurate picture. People in most of Europe are experiencing broadly the same problems right now.
Yes. I think the whole world shares this problem. The USA, China, ... not only european countries. And forunately it's getting better.
I'm not sure if I share the same view. As france had something like 6% of inflation, the UK hit double digits in 2022, up to 11% if what I find on the internet is correct. Other countries had it a bit worse, I think Germany spiked to about 9%. But the difference by a few percent makes a huge difference for economy. You're right, the Consumer Price Index for the UK and France look eerily similar for the last few years. I wouldn't have expected that.
I mean I'm not sure if this is the correct way to compare this. We don't import our lettuce and groceries from the UK. But Brexit affects us other Europeans as it affects the people from the UK. I personally can feel it since I used to source some electronics components from the UK and buy things from eBay. It's all gone by now. I'm not sure if this had gone on forever since competing against China is difficult. But it was way more convenient to buy for example a used graphics card from the UK than have it delivered from China.