John Rapley is a political economist at the University of Cambridge and managing director of Seaford Macro.
We haven’t been able to say that in a long time. And at first, given the cost of living crisis, it probably won’t feel that way either. Still, the deep trends suggest that compared to recent years, the road ahead will be less bumpy for people who live mainly off the fruits of their labours.will keep falling as the supply-side effects of the pandemic finish working their way though the pipeline.
But this is where the bad news starts, at least for them. While inflation is falling, core inflation is proving sticky. It’ll probably stay that way.
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