UK inflation could reach 15% by start of 2023, experts say

The UK’s annual inflation could go as high as 15% by the start of 2023, experts have forecast, as further sharp increases in energy prices push up the cost of living.

by | 3 Aug, 2022

On the eve of the latest decision on interest rates by the Bank of England, the Resolution Foundation thinktank said price pressures were likely to be stronger and last longer than the Bank had previously forecast.

The Bank’s monetary policy committee – which said in June that it expected inflation to peak at just over 11% in October – is poised to raise official borrowing costs on Thursday for a sixth successive month despite signs that the economy is weakening.
Read more at The Guardian

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