Alarming forecast about inflation in Britain
While inflation in Britain reached over 10 percent in July and the cost of living crisis has sounded the alarm for many British families, a new forecast by Citi Bank of America regarding the near-term outlook for price growth on the island has been shocking. Economic experts at this bank believe that at the beginning of 2023, inflation in Britain could reach 18 percent. The situation of price growth and runaway inflation is such that, according to the economists who authored this report, the increase in interest rates in Britain must go beyond the conventional methods of recent months used by central banks in developed countries, and perhaps an interest rate of 6 or 7 percent might be needed to control inflation.
