AJ Bell’s Russ Mould says 18% inflation in 1970s was ‘extremely difficult’ time except for gold

Russ Mould, AJ Bell’s investment research director joins Proactive London’s Katie Pilbeam to talk about the battle ahead for whoever wins the keys to number 10 in less than two weeks time.

For investors wondering what impact each candidate will have on a portfolio, he says its whether they will look at specific industries, where they will have to tax or regulate more or less or will they come up with ‘positive’ policies for the British economy that have ‘unintended consequences’.

The UK is now a path to exceed 18% inflation next year, the highest rate among larger western economies, according to a report from Citigroup because of surging wholesale gas prices. Mould says this will look like the 1970s – which was ‘extremely difficult time’ except for gold.

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