Economics
Surging U.K. Inflation Is Already a Problem for Johnson’s Agenda
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Prime Minister Boris Johnson’s vow to turn the U.K. into a high-wage, high-skill economy is running into an immediate problem: a significant spike in inflation driven by the economic chaos he chose to gloss over at this week’s Conservative Party conference.
A combination of higher energy prices, labor shortages and supply-chain disruptions are forecast to push inflation past 4% this year -- double the Bank of England’s target. Financial markets imply that a separate index used to price student loans and train tickets could reach 7% by April.