News · 31 March 2026
UK inflation could hit 4% by summer, economists warn
AI Generated (Gemini)
Millions of UK households face a sharper price squeeze than previously expected, with the Iran war pushing energy costs well beyond pre-conflict forecasts. The OECD now predicts UK inflation will reach 4% this year - 1.5 percentage points above its earlier forecast - and growth to slow to just 0.5%. The Bank of England had been expected to cut rates from 3.75% before the conflict began.
Reported by CNBC · How we write briefs