Brexit vote costs the average household extra 404 pounds per year
Center for Economic Performance under London School of Economics and Political Science published a report "The Brexit Vote, Inflation and UK Living Standards".
Center for Economic Performance under London School of Economics and Political Science published a report "The Brexit Vote, Inflation and UK Living Standards".
Researchers spent about nine months analyzing related statistics and evaluating the referendum's influence on inflation, change in wages and other aspects.
Affected by the referendum, inflation rates in the UK rose faster than in the Eurozone and United States over the past year. Devaluation of the pound, imports of goods and rising prices of raw materials have all pushed up inflation.
According to authors, the studies on Brexit's influence on inflation are quite complex, but this one calculates for the first time how the referendum has affected people's living standards.
According to the report, the Brexit vote costs the average household extra 404 pounds per year. And the impact of the referendum is equivalent to a 448-pound cut in annual pay for the average worker, almost one week's wages for the average worker due to increased prices.
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