And no, it is not early days and the cheap money is all gone, thus all companies funded with 98% of VC money and having little to no revenue in return for years, cannot hide and aren't going to survive that long, especially in a recession.
>Inflationary pressures in the United Kingdom and the rest of Europe have intensified significantly since the May Monetary Policy Report and the MPC’s previous meeting. That largely reflects a near doubling in wholesale gas prices since May, owing to Russia’s restriction of gas supplies to Europe and the risk of further curbs.
I'm not an economist, but another comment has already expressed skepticism over that claim.
The UK government is anything but "realistic and honest" about all the forces at work; they are collectively still in deep denial about the impact of Brexit.
The reason the US I presume you're talking about is hiding it and pretending it's not happening is because things are about to get way worse and you'll be begging for what prices are right now in a few months.
They'll only play those cards when it gets as bad as they're anticipating.