1/20/2022- 10:36 p.m.
UK Faces Brutal Living Cost Crisis Within TWO MONTHS
Great Britain is heading into a perfect storm of soaring energy prices, rising inflation, consumer price growth, rocketing interest rates and Brexit-sparked labor shortages by April.
At the start of Q2, the consumer price cap on energy prices is set to shoot up by 50% to leave households $2,700 worse off according to one think tank – and that’s before national Insurance contributions will be hiked a further 1.25%.
HSBC economist Chris Hare expects prices to keep rising through April, while a Bloomberg Economics expert forecasts inflation-adjusted wages to drop 1.2%.
