Charles Purdy
on January 5th, 2023 Sterling’s gains seemed to be short-lived as yesterday’s gains came against a backdrop of high inflation and soaring energy prices.
The British Retail Consortium reported food inflation in the UK hit a new record level of 13.3% in December. This follows a 12.4% increase in November. Likewise, the ongoing conflict in Ukraine has seen energy prices skyrocket and is expected to continue throughout 2023.
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