News: Brexit’s Impact on UK Pelikan Pricing

Brexit; June 23rd of this year, a referendum was held to decide whether the UK should leave or remain in the European Union (EU).  With a turnout of 71.8% of eligible voters, leave won by 52% to 48%.  The reasons behind the vote were multifaceted with those voting to leave citing a lack of sovereignty and an overly controlling EU that imposed far too many rules in addition to a large fee for membership.  The issues run much deeper than this oversimplification and the full ramifications of Brexit itself are well beyond the scope of this post.  I suggest anyone even remotely interested in this topic seek out reliable outlets for additional information on this historic and world changing vote.  While it will be many years before all of the consequences of this motion are realized, one of the more immediate results has been a significant decrease in the value of the British Pound.  The Pound has dropped by 18% against the US dollar and Euro compared with one year ago and hovers near a 30 year low.  What this means is that British buying power is reduced and the costs of imported goods inevitably must go up.  Inflation is also a real concern though this has relatively been kept in check to date.  Many experts don’t expect the full economic weight of the vote to come to bear until 2017.

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