Basically the index has risen because the Pound has been devaluing since the referendum and has devalued further since a recent interview with the PM raised the fear of a 'hard' Brexit. In other currencies the index has hardly changed.
Inflation is sure to follow and I can see retailers and consumers having a hard time as imported goods increase in price.
One could argue the pound had been overvalued for some time and has now found a realistic level.
One could also argue that at the moment we're in the worst situation, as some prices are kept artificially high by being inside the EU. So we have (some) high prices from within and prices rising due to the pound from other parts of the world.
One thing you can't argue against, is it's good for International exports - hence the FTSE 100.
This thread is now locked and can not be replied to.