Import prices start to bite

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The effects of the Brexit vote are now going to start.

Import prices increased by about 5% last month and a lot worse is to come as the large devaluation of the pound against the dollar and the euro starts to bite.

These inevitable price increases will be passed on to the consumer and will hurt the poorer members of society the worse. Probably many of whom voted for Brexit thinking it would be a wonder cure to control immigration.

What’s the saying: “You can’t fool all the people all the time.”

How long will it be before Poundland becomes Pound and Fifty Penceland?

Barry Pearson