Weber, Isabella M. and Guschanski, Alexander ORCID: https://orcid.org/0000-0002-7818-8264 (2023) Policymakers must tackle sellers’ inflation and prepare for future shocks. The House. ISSN 0309-0426 (Print), 2514-4448 (Online)

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Abstract

The United Kingdom is experiencing an intense cost of living crisis. According to the Office for National Statistics (ONS), between 2021 and the second quarter of 2023 prices have climbed a staggering 17.7 per cent. They have risen particularly rapidly in basic needs: housing, energy, transportation and food. Fighting this kind of inflation solely by hiking interest rates to decrease demand is inadequate. How far do you have to squeeze people and cool the economy until demand for necessities falls? The main driver of this inflation is not too much money chasing too few goods. Instead, this is better described as sellers’ inflation.

Item Type:	Article
Uncontrolled Keywords:	inflation, cost of living crisis, income distribution
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > Political Economy, Governance, Finance and Accountability (PEGFA) Journal of Economic Literature Classification > Political Economy, Governance, Finance and Accountability (PEGFA) Greenwich Business School > School of Accounting, Finance and Economics
Last Modified:	09 May 2025 11:37
URI:	http://gala.gre.ac.uk/id/eprint/50357

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