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Impact of falling oil prices on the UK economy
Descripción
This is a brief plab of the impact of falling oil prices on the UK Economy.
Sin etiquetas
uk
oil
inflation
Mapa Mental por
Abullah Al Arifi
, actualizado hace más de 1 año
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Creado por
Abullah Al Arifi
hace más de 9 años
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Resumen del Recurso
Impact of falling oil prices on the UK economy
The oil prices have fall 50% from the third quarter of 2014 until now
This fall have a significant impact reducing transport and other businesses costs
Lower oil prices help to reduce the cost of living
This have helped the UK economy to reduce its inflation to 1.2%
Which meet the Bank of England target of 2% +/- 1 inflation
This gives Western consumers more income to spend therefore, this might add to real GDP
This can be explained further to explain how inflation can effect the economy as a whole
Impact on oil consumers
This will boost both investment and employment (Pws, 2015)
Falling of oil prices is a good news for oil importers, such as the Western Europe countries
This can be an introduction for the presentation
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