I think perhaps Iains that you are choosing to ignore the facts that the pound had been trading* at levels in excess of 1.25 euro to the pound for over 2 years prior to the dramatic fall the day after the Brexit referendum.

* There was a slight dip in late April 2016 when it was 1.23.959.

The truth of the matter is that the referendum caused a massive decline in the value of the pound that it has not recovered from and which has had a negative impact on the rise in the cost of living for everyone.

That rise, of course impacts, to a greater degree on those with lower incomes. Although I suspect you couldn't give a toss about those people.