Britain will suffer the highest inflation of the G7 group of advanced economies this year and next, new forecasts show. The Organisation for Economic Co-operation and Development (OECD) lowered its predictions for headline UK inflation to an average of 2.8 per cent in 2024 and 2.4 per cent in 2025, from the 2.9 per cent and 2.5 per cent respectively that was forecast in November.
But this would still see the UK suffer the highest level of inflation of all the G7 countries, which include Canada, Italy, Japan, Germany, France and the US, in both 2024 and 2025. The OECD also downgraded its forecasts for Britain’s economic growth, meaning the UK economy will be the third-worst performer this year. Just France and Germany are expected to grow less than Britain, while Britain’s economy will grow at the same rate as Italy.
The latest figures are a fresh headache for Rishi Sunak as the general election, expected this autumn, approaches. It means the country will be going to the polls amid a period of sluggish economic performance and inflation still above the Bank of England’s 2 per cent target.
Esta historia es de la edición February 06, 2024 de The Independent.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 06, 2024 de The Independent.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Ten-man Forest earn draw in feisty battle at the Bridge
Chelsea’s winning run in the Premier League was brought to an end by 10-man Nottingham Forest who battled to a 1-1 draw at Stamford Bridge to maintain their own strong start to the season.
Brighton fight back to end Tottenham's winning run
Brighton scored three times in 18 second-half minutes to fight back from two goals down to stun Tottenham and claim a 3-2 win after an entertaining encounter at Amex Stadium.
United's vanilla display at Villa may yet save Ten Hag
Manchester United have rarely found relief in a five-game winless run but, for the second time in four days, there was some respite for the beleaguered Erik ten Hag.
One day in October that we have to keep remembering
Documentary maker Dan Reed's new film focuses on just one of the kibbutzim attacked on 7 October, as he explains to Guy Walters why the memory must never be allowed to fade
Wreck of 'ghost ship' found off the coast of California
The USS Stewart was deliberately sunk on 24 May 1946
'Impossible' for Beijing to rule Taiwan as motherland
As China seeks to 'reunite' the self-governing island with the mainland, Lai Ching-te insists his country is 'independent'
Heinz apologises as Black family advert sparks outrage
Heinz has issued an apology after it came under fire for an advertisement currently on display in Tube stations across London.
Landlord charges 'entitled' diners for wasting pub food
A pub landlord has warned customers he will charge them extra for large amounts of food they do not finish from his all-you-caneat roast dinner buffet.
Man endures cancer battle away from home as he waits for cladding work to begin
A homeowner who was evacuated from his flat a year ago due to dangerous cladding faces a battle with cancer from his temporary home as remediation work has not yet started.
'No one should live with threat of domestic abuse'
Dermot O'Leary backs Independent campaign for a refuge
