UK Economic News

[BlueKelah]

The Bank now expects headline inflation to peak at 13.3% in October and to remain at elevated levels throughout much of 2023, before falling to its 2% target in 2025.


The MPC now projects that the U.K. will enter recession from the fourth quarter of 2022, and that the recession will last five quarters as real household post-tax income falls sharply in 2022 and 2023 and consumption begins to contract.

Bank of England launches biggest interest rate hike in 27 years, predicts lengthy recession
https://www.cnbc.com/2022/08/04/bank-of-...years.html

at least they are getting ahead of inflation and measuring it properly. UK M2 money supply has only increase around 20% from precovid ~2.5T to ~3T post covid (past 2 years) so they should have inflation around 10% each year going forward will end2023/2024 if they dont print too much in the coming year. Their >10% inflation figure is likely compounded by external inflation as they are a net importer of energy.