Why is Britain getting inflation so wrong?
The Briefing Room
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The Influence of the War on Inflation Rates
The Bank of England is now acknowledging that it expected the end of furlough to coincide with a small or even a sizable increase in unemployment. Companies kept hold of workers because they weren't afraid they would not be able to rehire people once the economy improves. The price shock from the war in Ukraine hit Europe harder than North America. Inflation also continued to rise in Britain, in France, in Germany and the peaks there came a bit later than the US.
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