Impact of falling oil prices on the UK economy

Abullah Al Arifi
Mind Map by Abullah Al Arifi, updated more than 1 year ago
Abullah Al Arifi
Created by Abullah Al Arifi almost 5 years ago
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This is a brief plab of the impact of falling oil prices on the UK Economy.
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Impact of falling oil prices on the UK economy
1 The oil prices have fall 50% from the third quarter of 2014 until now
1.1 This fall have a significant impact reducing transport and other businesses costs
1.1.1 Lower oil prices help to reduce the cost of living
1.1.1.1 This have helped the UK economy to reduce its inflation to 1.2%
1.1.1.1.1 Which meet the Bank of England target of 2% +/- 1 inflation
1.1.1.1.1.1 This gives Western consumers more income to spend therefore, this might add to real GDP
1.1.1.1.2 This can be explained further to explain how inflation can effect the economy as a whole
1.1.2 Impact on oil consumers
1.1.3 This will boost both investment and employment (Pws, 2015)
1.2 Falling of oil prices is a good news for oil importers, such as the Western Europe countries
1.3 This can be an introduction for the presentation
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