The invasion of Ukraine has driven up the price of food and energy, as supplies are disrupted by the war and the West tries to phase out Russian oil and gas.
In 2013 and 2020, he said that the exchange rate would go down, the exchange rate would stay down, which would add to inflation, and that the Bank of England was also helping to fuel inflation and that it had slowed the pace at which the economy can grow.
The economy's capacity would go down for a period of time because of Brexit, which would add to inflationary pressure and we would have a situation where the Bank of England has to raise interest rates despite the fact that the economy is going into a recession. He said the UK had suffered a big hit to our productivity and that we have to take some tough decisions in order to get it back. The prime minister's official spokesman said: "What we are seeing is the challenges caused by the Pandemic and the war in Europe that have been driving factors in terms of inflation, and we're seeing high inflation in a number of countries around the world. Asked if he was denying thatBrexit had cause financial issues, he said: "Our focus is on ensuring we have stability and fiscal credibility." That's what the chancellor and prime minister are focused on rather than on a decision taken a number of years ago when people made a clear decision.