At 6.8% in the year to November, US inflation is as high as it has ever been for almost 40 years. That should be enough of a warning for the Bank of England as those with longer memories will know that what happens in the USA subsequently reaches the UK. Positively that roll call of US innovations includes the domestic electric refrigerator which was a novelty to most UK households when they arrived in the early 1960’s.
Less positively that US inflation back in the early 1980’s tore through the economies of both the USA and the UK before it was brought under control.
GBP/USD 1.3260.
When Amazon Web Services went down last week it did not only affect Amazon type services like Alexa and Ring but also the following : Netflix, Tinder, Disney+, Roku, Sweetgreen and McDonalds. Such is our connected world these days. Thankfully all now reconnected…until the next time!
That’s what McDonalds are being accused of in the wake of their launching the first net zero carbon UK restaurant in Market Drayton, Shropshire. Powered by solar panels plus wind turbines, insulated with British sheep’s wool, clad with recycled IT equipment and assisted by carbon offsets, McDonalds are throwing the eco kitchen sink at this demonstration of their right on 2021 credentials. Hence those green cynics.
Air quality or rather a lack of air quality in Delhi is routinely ranked as being at or near the top of the table when it comes to pollution. Levels of PM 2.5 which are the tiny particles that damage the lungs, kill 1 million people annually in India and Delhi is the worst offender of India’s 22 most polluted cities. However what is a shock is that indoor pollution across a wide selection of offices and homes in Delhi in all socio economic classes has been measured in November this year as being worse than external air quality. This study has been carried out by EPIC-the Energy Policy Institute at the University of Chicago which estimates that 7 million die of poor air quality globally each year which is more than the number that die of smoking. USD/INR at 75.61 the low of the year.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Morning Brief – Will they, won’t they
Charles Porter
Thu 26 Jan 2023
Will they, won’t they It’s one week to the day until the next Bank of England decision. It will prove critical to the value of GBP and perhaps prove to be a defining feature of the currency market for at least the first quarter of this calendar year. Bank rate in the UK currently sits […]
Morning Brief – Inflation
Humphrey Percy
Fri 27 Jan 2023
Inflation With markets as ever getting ahead of themselves by many having decided that the inflation peak is a yesterday thing, there is a dawning realisation that with the current levels of USA 6.5%, 9.2% UK and 10.4% EU as at Dec 2022, inflation is not only well above target of 2% but is still […]
Morning Brief – UK Government Borrowing By Numbers
Humphrey Percy
Wed 25 Jan 2023
UK Government Borrowing By Numbers Many people have a disconnect when it comes to linking government finances with their own-bring on the idea of teaching finance as part of the school curriculum-however, yesterday’s release showing the government borrowing figures fall into the category of both attention grabbing but so eye watering that many will likely […]
