Higher inflation, which followed sterling’s slump after the Brexit vote, pushed up the cost of financing the portion of government debt linked to rising prices. Unemployment better than forecast, wages as expectedHousehold budgets have come under pressure from a fall in real pay, as prices rise faster than wages. A net balance of 7% of surveyors saw prices rise rather than fall in June, down from 17% in May. It was the weakest since July 2016, a month after the Brexit vote, as political uncertainty weighed on the property market. UK productivity has dropped back to where it was at the end of 2007 just before the economy was plunged into recession.

Source: The Guardian July 24, 2017 04:52 UTC