Here’s the real inflation stranger-danger. Didn’t it all seem great, when companies were halving their manufacturing costs by having everything made in China. Now we (and half of the rest of the world) can’t make anything anymore and they’ve got us over the proverbial. If they say they’re going to double their prices, what can we do? Build more factories? Find workers happy with less than China’s average of £2.53 per hour average factory wage? I don’t think so. Life’s about to get a tad more expensive, I fear.
“UK slips into recession as economy contracts 0.1% in December”
This week’s big economic and bad election news is that we are, or certainly have been, officially in a recession. You may not have thought you were, or you may have thought you have been for some time, as we and its effects are all different.