UK economy beset by sluggish growth and high inflation
Think tank: National Institute of Economic and Social Research (NIESR)
Author(s): Various authors
May 11, 2023
This report from UK think tank NIESR provides a quarterly economic forecast of the UK economy.
This quarterly economic forecast of the UK economy, from the National Institute of Economic and Social Research, predicts that sluggish growth and high inflation will continue to beset the IK economy. Because of these persistent problems it identifies that the UK’s poorest households are around £4,000 per year worse off as a result of Covid-19 and the cost-of-living-crisis: this shortfall represents around one quarter of their incomes and is driven mostly by low wage growth not offsetting the impact of high food and energy bills along with increased housing costs.
