Why is Britain getting inflation so wrong?
The Briefing Room
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The Rise of Inflation in the United Kingdom
The Russia-Ukraine War started in February 2022. The inflation rate just before the war was at 6.2%, which is more than three times the bank of England's 2% target. Britain had this little European style energy price shock, coupled with that American style worker shortage. Even though the bank has been very heavily criticized, they did do this tightening process much earlier than the European Central Bank and US Federal Reserve.
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