Business · 3 August 2026
Why EY Warns a Blocked Shipping Route Could Shrink UK Output
Inflation might hit 6.4% late in 2026 if the vital shipping route remains blocked. Accountants at EY warned on Monday that a lasting closure will cause a 0.2% drop in economic output during 2027. The Bank of England published a different outlook last week, predicting nearly 1% growth even with much higher oil and gas prices.
Reported by Reuters · How we write briefs