Project Fear Becoming The Reality

As inflation rate reaches double digits in the UK, the question is why are we experiencing such a rise in the cost of living?
Of the G7 nations, the UK has the highest inflation rate of 10.1% compared to 8.5% in the US, 7.9% in Italy, 7.6% in Germany and Canada, 6.1 % in France and 2.3 % in Japan.
We regularly hear that the price rises are driven by soaring food and fuel prices due to the war in Ukraine and the effects of the Pandemic but those things are not limited to the UK and every nation is affected by these things so it doesn't explain why the UK is suffering it's highest inflation rate for 40 years.
The Bank of England expect inflation to reach even higher and peak at around 13% before falling in 2024 so what had the UK done, or not done, that makes it such an outlier from the other richest nations?
The Peterson Institute for International Economics point squarely at Brexit, attributing 80% of the difference between inflation in the UK and other countries to Britain’s departure from the EU which the Government Economic Service and the Centre for Economics and Business Research agree with, saying that Brexit’s impact on the UK’s prices is due to a very substantial drop in the value of the pound which discouraged companies from investing and a loss of workers and a fall in exports due to increased costs.
Gerard Lyons, previously the chief economic adviser to Boris Johnson as the mayor of London thinks that we are still feeling the effects of the 2008 global financial crisis which has meant that many firms put their investment plans on hold.
Forecasters agreed that the potential hit to GDP following Brexit would reduce the UK's economy by 4% and despite what Liz Truss is saying, the only new trade deal's we have made are with Australia, New Zealand and Singapore while the rest are just rolled over from our time in the EU so the Brexit gang who voted us out of the largest Single Market on the Planet may not like it, but a large part of this is the consequences of their woeful decision and they can't say nobody warned them because they dismissed it as Project Fear at the time but it's all coming true, and about to get worse.