According to the British Retail Consortium, non-food retail prices actually fell last month driven by discounting.
So, we are seeing the very real impact of the squeeze on household financing driven by BoE policy.
While food prices seem unlikely to drop for climate & supply reasons, across non-food markets its the potential start of a period of deflation... an 'overshoot' by the BoE that will be hidden in 'headline' inflation but will still be a serious economic problem.
#Restaurants bloggers live in a bubble, it shows particularly in this #stagflation (#recession + #inflation), where they keep saying things like, "Not only are the ambience & food great, it doesn't wreck your wallet either: you can get a meal for two at merely 49$ per person!" (+15% tip, +15% tax) 🤌
…while I make myself fairly high-quality (and definitely healthier) meals for 5$ worth of ingredients.
Sure, I lose 200$ worth of my time doing so, but hey, I've always been terrible at math 😉
I don't like to get ahead of myself on #economic predictions but the #waves tell me the #UnitedStates is in the beginning of a multi-year #super#cycle that could extend to a decade with the correct policy positions and a bit of luck.
Circumstances change but the US economy continues to defy the petulance from the #recession world. #investing
What are the real problems of the German economy? | DW News
Leading German economic institutes have revised the country's growth this year down to near stagnation.
They now expect the German economy to increase by just 0.1 percent in 2024, slashing their previous forecast of more than 1 percent. High interest rates, weak global demand and political uncertainty have disappointed hopes for a stronger recovery.