UK Inflation on the Brink: Will Energy Prices and Food Shortages Send Rates Soaring?
The scorching heatwaves that have plagued the UK in 2023 have led to a surge in energy prices, which are expected to have a significant impact on inflation figures due out this week.
The combination of soaring energy costs, crop shortages, and potential disruptions to global oil supplies threatens to push inflation rates above 3% by year end.