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Have changes in UK immigration increased inflation?
As the U.K. contends with one of the highest inflation rates among advanced economies, there are signs that a drop in immigration from the Continent has contributed to an overheated job market as well as higher inflation, according to Goldman Sachs Research. And while overall immigration has increased since Britons voted to leave the EU, more people are coming to the U.K. from outside of Europe, and many are migrating for humanitarian reasons and to study. European migration meaningfully reduced labor market tightness in the U.K. after EU enlargement in 2004, when a number of countries joined the bloc, Goldman Sachs ... (full story)