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.
Denne historien er fra February 06, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 06, 2024-utgaven av The Independent.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
STOLEN MOMENTS
The antics of the gentleman thief in EW Hornung's 'Raffles' bring Anthony Quinn as much joy as when he was a child.
Can Glaser give Hollywood the roasting it deserves?
The stand-up comedian's close-to-the-bone comedy makes Nikki Glaser the ideal choice to host tomorrow's Golden Globes. Move over, Ricky Gervais, writes Kevin E G Perry
'I'd just turned 18... I don't think I was remotely sexy'
Little Mix's Jade Thirlwall is newly solo with a debut electropop hit to her name. She talks to Annabel Nugent about the downside of fame and how she's never feared 'clapping back'
The disruptor: why Musk is a risk to German democracy
The tech billionaire's move to support the AfD is proof he is determined to unsettle a nation that knows all too well what far-right dictatorship can bring, writes John Kampfner
Slot turns transfer saga into surprise Liverpool benefit
Arne Slot has claimed that the saga about Trent AlexanderArnold's future is helpful to him as it prevents his Liverpool players from being overloaded with praise that could make them complacent.
United 'are starving for leaders', admits Amorim
When Ruben Amorim got to convey good news, it still came with a demand.
Still a teenager but there are few weaknesses in his game
Whether he beat or lost to Michael van Gerwen on the Alexandra Palace stage on Friday night, Luke Littler was al going to leave his second World Darts Championship as a winner.
Littler makes history after winning world title aged 17
Darts has a new world champion, and he's a 17-year-old boy from Warrington.
The hot UK industry that could be facing a wipeout
Don't tell Liam and Noel, but the biggest entertainment event of 2025 won't be their reunion, it'll be the launch of Grand Theft Auto VI.
Taxes to rise again despite growth, warn economists
A group of economists have warned that the Treasury is likely to raise taxes even further this year, despite an expectation that the country will return to growth in 2025.
