Pound faces shock plunge as inflation of 17.23% reported

The first of the new rail networks opened today. The Coastal Transport for Dyfed Route runs through the major towns between Caerdydd and Pen-y-Bont, while continuing to Casnewydd:

Stops from West to East:

• Pen-y-Bont
• Llanilltud Fawr
• Y Rhws
• Y Barri
• Cogan
• Caerdydd Canolog
• Casnewydd

This comes as the latest section of the motorway network also opened:

The latest section joins the Caerdydd West Link Road to Pen-y-Bont

However it wasnt all good news for the government this week. The latest inflation figures revealed a horrifying 17.23% (an increase from 12% last month). 

This forced the President to announce a further rise in Interest Rates from 5% to 7%, after being at 0% only 2 months ago.

In a statement the President told the press:

"Morning all. I'll keep this brief and I won't be answering questions. The latest figures for our inflation are a grim read as I'm sure you've realised. However it's testimony to the work that we're doing as a government to improve infrastructure in this country. This increase and the rate it's increased since April is unsustainable however and we must take action. Therefore, I have commanded interest rates to be increased to 7% from their current 5% threshold with immediate effect.

I understand people will be worried, but this government has full confidence in our national bank, and the public should have confidence too. 

Thank you"

The Social Party released the following statement on their social media accounts:

"This increase shows how much out of touch this government is. They should be shown the door and this August is your opportunity to do so. Show the President that the Social Party should be trusted with managing the economy, not his botched plans".

The pound has dropped to a month low of 0.03162