"(~20% cut to GBPUSD, 1% inflation...)"

IMO we are about to hit much more than 1% inflation with the devaluation of our currency.

Think how much petrol has gone up, food is about to go up, imports are going up etc.

We will have much more than 1% inflation annually next year I think, and I don't think wages will keep up. That is if things go ahead as they currently are.

On the flipside this makes Devs in the UK much cheaper, and if we have the combination of inflation and stagnant wages then the housing market will collapse, which will eventually make UK more competitive.