Brexit 'Hitting Hardest' after Welsh Pockets Rise in Inflation

Western Mail (Cardiff, Wales), November 20, 2017 | Go to article overview

Brexit 'Hitting Hardest' after Welsh Pockets Rise in Inflation


Byline: David Williamson Political Editor david.williamson@walesonline.co.uk

WALES has suffered the worst spike in inflation in Great Britain as a result of last year's vote for Brexit, according to new research from the London School of Economics.

The analysis by its Centre for Economic Performance found London was the least affected region and that the rise in inflation in the UK capital was 0.35 points below the UK average. In contrast, the increase in inflation in Wales was 0.21 points higher than average.

The findings will intensify concerns as Wednesday's Budget looms about the impact of Brexit on living costs in the most deprived parts of the country.

The researchers state: "The impact of the referendum is equivalent to a PS448 cut in annual pay for the average worker. Put another way, the Brexit vote has cost the average worker almost one week's wages due to higher prices."

Northern Ireland was the worst affected part of the UK, where the rise in inflation was 0.47 points higher than average.

The analysts studied the impact of the fall in the value of the pound in the wake of the Brexit vote and concluded that the "average household PS7.74 per week through higher prices" - the equivalent of PS404 a year. They state: "Our research provides the first detailed analysis of how the referendum outcome has affected inflation, real wages and living standards in the UK. We find that following the referendum, prices increased more in product groups where imports account for a higher proportion of consumer expenditure.

"Our baseline estimate is that the Brexit vote increased inflation and decreased real wage growth by 1.7 percentage points during the year to June 2017... [Our] results provide compelling evidence that UK households are already paying an economic price for voting to leave the EU." Products hit by inflation include bread and cereals; milk, cheese and eggs; coffee, tea and cocoa; beer; wine; furniture and furnishings; and jewellery, clocks and watches.

Dr Thomas Sampson, a co-author of the report - which was supported by the UK in a Changing Europe initiative - said: "Our research is not a Brexit forecast. It is about the costs of Brexit that have already materialised. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Brexit 'Hitting Hardest' after Welsh Pockets Rise in Inflation
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.