Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
inflation in the UK
Economy

Inflation in the UK will decline: analysts’ forecasts

03.06.2023
2 min read

Inflation in the UK could fall to 2%

After a sharp rise in gas prices, they began to fall, which has had a positive impact on global economic forecasts. Analysts at Citigroup believe that inflation in the UK will reach 2% by the fall of 2023, by July we can expect a figure of 5%.
The experts have revised their forecasts taking into account the developments in the energy market and improved them, including for the UK. For comparison, in the previous report, Citigroup assumed that the increase in consumer prices could reach the target of 2% only in the spring of 2024, and now this level for the economy became possible in the second half of 2023.
A significant slowdown in inflation in the Kingdom was recorded in January. Then the price increase was 10.1% in annual terms.
The pessimistic forecast for the UK is for inflation to reach an annual equivalent of 11%, which could be the highest in the last 40 years. At the same time, GDP will decline by 0.3%. One of the major problems for the local economy remains the high energy prices, as a result of which the population suffers from rising utility rates. This situation reduces the rating of the leading British party and causes discontent in society. So far, support for the Conservative Party is around 27%.inflation in the UK-2According to the CBI (Confederation of British Industrialists), the country will not return to pre-pandemic GDP growth rates until the second half of 2024. The unemployment rate will reach 5% by the end of 2023, which will be a record for the kingdom. It stood at 3.6% at the end of 2022. The CBI also predicts that business investment will still fall short of the 2019 figures.
However, experts believe that such a pessimistic forecast is unlikely, especially given the current success of the British economy.
As for inflation in the European Union, its core rate was 5.3% in January 2023, a record for the region. The headline rate, which includes food and energy costs, reached 8.6%. Eurostat notes that higher energy prices due to the geopolitical conflict have long-term implications for the region.
Continued inflation is likely to lead to another interest rate hike. The EU central bank has also stated that the deposit rate will reach 3% from 2.5%. This move will keep lending sustainable, but further increases are possible.
Analysts note that so far there are no conditions for the European regulator to revise the current monetary policy. Even if inflation continues to decline, these rates are still not enough to keep the market stable.

Tags: Economy
0
Previous Post Mary Erdoes: the most powerful woman on Wall Street Next Post Heineken Brewing Company carries out a buyback of shares

You Might Also Like

The future of oil-2
Economy
The future of oil: how the industry will develop until 2026
27.01.2022
credit rating
Economy
The Fitch agency left Latvia’s credit rating unchanged
26.05.2023
Portugal's economy
Economy
How Portugal’s economy recovered from the crisis: the country’s experience
30.08.2020
new global economic crisis-2
Economy
A new global economic crisis is inevitable: the opinion of analysts
18.03.2022
Russia is moving away from the dollar
Economy
Russia withdraws from the dollar in settlements with Turkey: details of agreement between countries
20.08.2020
growth of the government debt
Economy
Analysts predict that the U.S. government debt will double by 2050
27.05.2021

Recent Posts

  • 1investment in Turkey's steel industry
    Yıldız increases investment in the Turkish steel industry
    20.09.2023
  • 2Abu Dhabi Exchange
    The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
    18.09.2023
  • 3mobile marketing
    How mobile marketing helps to retain existing customers and attract new ones
    16.09.2023
  • 4E-commerce company Rakuten
    Japan’s Rakuten intends to raise funds by issuing shares
    14.09.2023
  • 5coal mining
    Coal mining in India has increased by more than 22% in 5 years
    12.09.2023

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

investment in Turkey's steel industry
Yıldız increases investment in the Turkish steel industry
20.09.2023
Abu Dhabi Exchange
The Abu Dhabi Exchange has created ideal conditions for the IPO of an Adnoc unit
18.09.2023
mobile marketing
How mobile marketing helps to retain existing customers and attract new ones
16.09.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Why the Federal Reserve System (FRS) refused to raise interest rates
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics