It follows former Bank of England policymaker, Adam Posen’s claim that 80 percent of the country’s inflation problems stem from Brexit.
He claimed: “You’ve seen a huge drop in migrant labour. When you look at the macro factors, it’s very difficult to see anything other than the labour market issues. It really seems like Brexit has to bear a disproportionate role in explaining the inflation.”
But economist Julian Jessop fired back saying the claims are “dodgy”.
Sharing a graph on Twitter showing inflation across Europe, the US and Canada he added: “any suggestion that 80 percent of the UK’s current #inflation problem is due to #Brexit would clearly be ludicrous.”
FOLLOW BELOW FOR UPDATES…