Cost of living latest: Iceland and Morrisons have put up prices the most

Cost of living latest: Iceland and Morrisons have put up prices the most

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Cost of living latest: Iceland and Morrisons have put up prices the most

Whenever a new prime minister takes the oath in any country, he first tries to alter the economic reforms of the previous one. With the help of his assistants, the PM works on a plan that is much better and more effective than the existing one. It is a tricky task, and the first that arises in their mind is, “where to start?”.

After the pandemic period, inflation has increased dramatically. This change is not only affecting third-world countries but also causing trouble for first-world countries. The rate of the pound is also falling day by day. Currently, the pound is at a point where it was in the early 2000s. And according to some reports, it will keep falling for some weeks. The prices are at their peak in European nations, especially in Iceland and Morrison. The gas, petroleum, and electricity prices are also thought to be rising from the week. If it is true, the upcoming year will be very tight for the citizens of Europe. They will have to adjust their incomes according to current economic conditions and be patient. 

Financial data company Bloomberg has stated in their recent report that the pound is at its lowest level. It also seems like the fall of the pound is evitable now. The same thing also happened after the European Union Referendum. 

The investors are trying to build confidence to invest in their country and attract foreign investments. This way the value of the currency can stabilize or even regain. As we all know, a country’s currency strengthens when other currencies are converted into that currency. And the opposite results are obtained in inverse conditions. 

After the measures taken by the investors and the new Prime Minister, it looks like the currency is not going to recover in the next few months. The prime minister has to take some challenging actions in these difficult times. The taxes should be reduced, and energy bills should also be maintained according to the current situation. This way the burden on the common citizen can be decreased and inflation can also be controlled.

According to a report, the real decider of the prime minister’s fate is investors. Public support and voting can get the prime minister a seat for the first time. But his next turn is dependent on the GDP change during his last era. Foreign relationships and investments are the major factors that increase a country’s GDP. However, if the relationship with any primary investing nation deteriorates, the fate of the country and the current prime minister is going to be ruined.

The country has lost significant investors, and the economic condition is gradually worsening. It seems like Britain has come back to the position where it was in the first and second world wars. The lack of foreign investments has put Europe in an embarrassing and painful condition. 

The prices of houses and apartments have also increased significantly. The rents in Iceland and Morrison are touching the canopy of the sky. The people are unable to find new homes. And the ones who are already living on rent are facing difficulty clearing their dues. Expenses have surpassed the amount of the income of a citizen. In these harsh conditions, all the eyes are locked on the new prime minister and the cabinet. Hopefully, the new bill will provide some ease to the citizens and the economy. Moreover, it will also focus on stabilizing the economy.

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