Tuesday, October 11, 2016

Luxury goods and the sterling devaluation

The sterling devaluation is helping British exporters and hurting British consumers.  However, it is also helping British Tourists:

Since Britain voted in June to leave the European Union, sterling has tumbled 17% as of Friday’s close, having set fresh three-decade lows last week. The fall has ratcheted up prices here of imported wine, electronics and even some cars. But most luxury-goods makers—protected by typically fat margins for their products—haven’t yet raised their prices. That has suddenly made the U.K. the least expensive market in the world for a bevy of luxury goods, according to analysts.

HT:  Adam

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