COSTS SURGE.. AGAIN - Read this story on Magzter.com

Daily Mirror|March 12, 2022

RUSSIA'S war on Ukraine could land another hammer blow for households here and even push Britain into recession, experts warn.

- GRAHAM HISCOTT and RUKI SAYID

Bank: Interest rates could rise
Uncertainty over economy
Farmer's beg for prices help

As Vladimir Putin's barbaric assault drags on, the financial hit for UK families and firms looms larger.

Diesel hit a record-breaking 170p a litre yesterday and research suggests energy bills will soar at least 14 times faster than wages this year.

Experts say the Bank of England is "highly likely to raise interest rates.

Office for National Statistics figures yesterday showed the economy recovering from Covid, with gross domestic product growing 0.8% in January, after December's 0.2% contraction. But Chancellor Rishi Sunak, left, warned any momentum could be lost, saying: “Russia's invasion of Ukraine is creating significant economic uncertainty."

There are also fears fallout from the conflict could lead to rising costs for businesses, weaken consumer confidence and even put the economy into reverse.

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