Is the true damage of the Brexit vote now showing its face (Daniel Johnson)

The UK has had positive data releases of late, going against the grain. Many analysts predicted that data post-brexit would be negative an Sterling would fall in value against the Swiss franc as a result. Instead we saw the biggest single rise in manufacturing figures in a single month for twenty-five years. UK retail data was also very positive and caused the pound to rise against the majority of major currencies.

Yesterday saw an end to the impressive data with the releases with Producer Price Index (PPI) and Consumer Price Index (CPI) data coming out. PPI provides the changes in price in UK manufacturing. CPI is a comparison between the retail prices of a representative shopping basket of goods and services and is a key measure of inflation. Both figures were negative and Sterling has dropped in value as a result.

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