Inflation in the UK will hit 18% early next year as consumers count the cost of the deepening energy crisis, one of the world’s biggest banks has predicted.
The US financial services group Citi said it expected the consumer prices index to breach 18% in the first quarter of 2023, while the retail prices index inflation rate would soar to 21%.
Citi’s prediction is significantly higher than previous modelling of the impact of rising costs.
Read the full article on The Guardian website
NAM Implications:
- Fixing the UK economy?
- Now urgent?
- If the Government is serious, really serious, about getting it right, especially given the probability of inflation reaching 18%, a ‘wartime mentality’ might help…
- See: Fixing the UK Economy’s Cost-of-Living Crisis…Doing What It Takes
