The UK government should worry about the 10% plunge in the value of the pound this year because it is making the cost-of-living crisis even worse, a senior member of Parliament said. Mel Stride, a former Treasury minister who leads the Treasury Committee in the House of Commons, said sterling’s move is “is something we should be concerned about” and that “the most worrying thing is the cost-push inflation on imports.” The comments suggest the mood among policymakers about the currency may be shifting from indifference to alarm. A weaker exchange rate tends to push up inflation by adding to the cost of imports, ... (full story)