Why does Britain have the worst inflation in the G7? - BBC Newsnight

The Bank of England is watching UK inflation carefully, and the latest official figures show that inflation slowed in April by less than expected to 8.7%. Britain’s ‘core inflation’ - a measure which doesn’t include volatile components such as energy and food - is the highest of the G7 countries at 6.8% and is going in the wrong direction. Nationwide building society has warned that rises in mortgage interest rates - closely tied to increases in the Bank of England’s rate that has been raised to try and control inflation - could hit the housing market. So why is inflation in the UK so stubborn compared to similar countries? Newsnight’s Economics Editor Ben Chu reports. Please subscribe HERE — Website: Twitter: Facebook: #Newsnight #BBCNews