UK now facing deflation, warns BCC
22/04/09 17:59
The British Chambers of Commerce (BCC) has warned that the UK is now facing deflation, which could worsen the recession.
Commenting on the latest Retail Price Index (RPI) figures, which revealed prices were lower than one year ago, David Kern, the BCC's chief economist, said the RPI "fell by more than expected".
"Deflationary pressures could make the recession worse in the short-term, despite quantitative easing and the huge budget deficit posing inflationary pressures over the medium-term," he continued.
With firms looking to freeze pay and unemployment now past two million, Brits could be tempted to seek their fortunes elsewhere.
Taking the leap and moving abroad to an expatriate lifestyle requires considerable planning and is not without its own risks.
Anyone considering making the break should consider securing international medical cover.
The UK government advises its nationals to first get independent tax advice and inform social services, before they jet off to start their new lives.
Moving abroad? Get a free quote for your international medical insurance online.
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