UK warned of ‘astronomical’ inflation next year ...News

A long recession is also coming, a think tank warns Inflation in the UK will reach “astronomical” levels next year, and households will continue struggling amid the ongoing cost-of-living crisis, The Guardian newspaper reported on Wednesday, quoting a leading think tank. Rising gas and food prices will send inflation to 11% before the end of the year, according to an estimate from the National Institute of Economic and Social Research (NIESR). The official figures for June put the inflation at 9.4%, the highest level since February 1982. There will be “no respite” for British households and businesses from “astron

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