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"Inflation is crazy! To prevent theft, British supermarkets lock up butter! Enterprises accelerate bankruptcy" Shipping Logistics | International Logistics | International Freight Forwarder | Guangzhou Freight Forwarder | Panyu Freight Forwarder | Hongde International
Apr 18,2023
The International Monetary Fund (IMF) once again pointed out in its new economic forecast that the UK will face dismal growth prospects. The UK economy is forecast to contract by 0.3 per cent in 2023, making it one of the world's worst performing major economies.
UK inflation is serious
Supermarket gives butter "lock" for theft prevention"
In fact, high inflation and the aftermath of Brexit are seriously affecting the UK economy.
According to foreign media reports, in recent months, prices in the UK have soared, many people are unwilling to spend more money on shopping, supermarket thefts have surged, and some supermarkets have even "locked" butter for theft prevention ".
Recently, a British netizen found in a London supermarket that a butter sold on the shelf was "locked". The netizen shot a video and posted it on the Internet with the words "British inflation is too crazy", which triggered a big discussion among netizens.
Hongde Xiaobian learned that on March 28, local time, the new data released by the British food industry showed that the UK food inflation rate rose to a record 17.5 in March, with the prices of eggs, milk and cheese rising rapidly. High levels of inflation are causing more pain for some consumers in the midst of a cost-of-living crisis.
Number of UK corporate bankruptcies last year
More than 22000, up 57% year-on-year
Recently, according to the British "Financial Times" report, affected by adverse factors such as soaring inflation and rising interest rates, the number of British corporate bankruptcies in 2022 has risen sharply.
According to data released by the UK Bankruptcy Bureau, the Z government agency responsible for corporate bankruptcy and liquidation in the UK, the number of UK companies registered bankruptcy last year exceeded 22000, an increase of 57% year-on-year, the highest value of Z since 2009.
Among them, the construction, retail and hospitality sectors were directly affected by the recession and declining consumer confidence, with related companies particularly hard hit.
Christina Fitzgerald, president of R3, an industry group for corporate bankruptcy and restructuring, said the reduction in government support for businesses was an important factor in the concentrated outbreak of insolvency problems for many businesses in the UK last year.
In this regard, the Japanese economic news commented that the competitiveness of the British industry has declined significantly. The idea of Britain developing on its own outside the EU is hitting a wall.
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