Another inconvenient truth for pro-EU Rejoiners
The latest official figures show how much better the UK has been doing than the EU
EU’s inflation is higher than in Brexit Britain and was higher every month last year
On Thursday the EU updated its latest inflation figures (for January), showing that the bloc is still suffering inflation in double digits. Meanwhile, the newly independent UK is down to 8.8%.
I am comparing the performance of the UK and the EU when it comes to the official inflation figure, CPIH, (which includes housing costs and is the headline figure used by the EU’s official statistics agency and also used by the UK’s Office for National Statistics). I also compare food price inflation.
Brexit Britain is significantly outperforming the EU on inflation it's the inconvenient truth for pro-EU Rejoiners.
1. Annual inflation figures for January 2023
- UK: 8.8%
- EU : 10.0%
[Sources: Office for National Statistics and EU Commission (Eurostat)]
But what about food price inflation?
When it comes to our daily lives, probably the most noticeable change in our cost of living hits us when we go supermarket shopping.
I, therefore, looked into the latest figures and compared the rise in prices of food in the UK with the average rise in the EU.
Food price inflation since January last year
- UK: 16.8%
- EU: 18.4%
[Sources: Office for National Statistics and EU Commission (Eurostat)]
Where is “Brexit Britain, the basket case?”
When reviewing the information above, I must once again remind readers that British voters were told the UK economy would pretty much be a (shopping) basket case by now. The official facts tell a different story, however.
UK’s economy to fall off which particular cliff, exactly?
Far from the economy of the newly independent United Kingdom ‘falling off a cliff’, it might be said in an understated British manner that the UK has more than held its own.
Had the UK economy ‘fallen off a cliff’ — as we were threatened it would by the Remainer Establishment — there is no doubt in MY mind that large parts of the Remainer media such as the BBC would be letting us know on a daily basis.
As it is, the UK has topped the tables as the G7’s fastest-growing economy for the last two years running. And in MY latest example of key metrics, prices are rising less fast in the UK than in the EU27 — and this has been happening for the past 12 months.
But what about food price inflation, splutter Rejoiners?
When I research and publish reports on one key set of statistics, typically Rejoiners come back with a comment on a different set of data. For example, if I had only quoted the headline rate of inflation above, Rejoiners would have spluttered: “Ah yes, but what about food price inflation? This has been going through the roof in the last year and it’s because of Brexit!”
As I have shown above, once again Brexit Britain has consistently performed better than the EU27 when it comes to the rising cost of our weekly shopping. This is not an opinion and nor is it one of the Rejoiners’ favourites: a forecast. It is fact. Remember it's not plucked from the air the figures come from official establishments both in the UK and more importantly the EU itself.
Yes our shopping trolleys are seeing a rise in prices, and yes we are seeing a good price rise in gas and electricity prices, but it's defiantly not as bad as what they are seeing in the EU.
I often look at what Germany is doing and the reason I do that is that Germany was the biggest economy in the EU and the UK was the second when we were in the EU so it's natural to look at how they are doing.
I have written quite a few articles on Germany over the last few months and it does not look good at all. If Germany is doing badly then what does it say about the rest of the EU countrys that follow in its wake?
From German food banks, pawnbrokers, energy, strikes, and price hikes. health. It does not bode well for both Germany or the EU.
