The Bank of England might cut interest rates before the Fed — here's why

Inflation is an idiosyncratic beast. Almost as much as the consumer.

In 2013 I moved from Athens to London. At the time, the average in Athens was about half of that in London. In my first British job, I heard some colleagues complain about how carrot cakes had picked up by 10p. I couldn’t, for the life of me, understand why one of the most of a cake. In Greece, such a conversation would have been humiliating. We paid what was asked, or risked appearing poor, and we fought over who gets to grab the bill (some insights there on the Greek default).