The report by the Centre for Economic Performance at the London School of Economics is the first detailed statistical analysis of the EU referendum’s effect on inflation, wages and living standardsBrexit has cost the average worker a week’s pay in lower real wage growth and higher inflation, according to an analysis by academic economists. Prices since the referendum have risen fastest in products with high import shares, such as bread, eggs and milk as well as furniture and jewellery, the report by the Centre for Economic Performance (CEP) at the London School of Economics said. The finding linked the 12 per cent collapse in the pound since the Brexit vote and rising prices. Official figures show that real wages have shrunk for six consecutive months as inflation outpaces pay growth. The report for the UK in a Changing Europe is the first detailed statistical analysis of the referendum’s effect on inflation, wages and living standards.…

Source: The Times November 20, 2017 00:05 UTC