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UK economy is under fire as inflation crosses 10%, highest since 1982

The United Kingdom (UK) economy is under fire and has not been doing so well. In fact, consumer price inflation (CPI) in Britain has jumped over 10 per cent which is the highest since 1982.

The annual CPI rate was recorded at 9.4 per cent in June this year. It rose to 10.1 per cent in July. The last time British CPI touched such was in February, 1982.



It is not a surprise as several Europe countries have been struggling since the pandemic hit the world. A number of countries are seeing increasing inflation. Another reason behind this economic mess is the Russia's invasion of Ukraine.

However, it seems like the United Kingdom is likely to suffer the most. The forecasters of the economy have a gloomy outlook and are not so positive.


The Bank of England is suffering and has been out of favour lately. The Bank of England has the most shocking and gloomiest forecast among many. There are predictions that the economy will shrink by about 1.5 per cent in 2023.

It is even when the US economy is predicted to grow by over two per cent in 2023.

The United Kingdom is in dire crisis and could only hope for things to get better. No sector seems like it could help it. We can only wish for better days for the UK economy.

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