It came as the IMF increased its UK growth forecast for this year but reduced its prediction for 2026 amid concerns over the labour market.
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UK inflation is set to surge to the highest in the G7 in 2025 and 2026, according to the International Monetary Fund (IMF).
In its latest outlook report, the influential economic body said price inflation in the UK would increase more sharply than expected in both years compared with previous predictions from July.
The International Monetary Fund (IMF) is predicting the UK will have the highest inflation in the G7
The influential policy group lifts its forecast for UK inflation, saying it will be 3.5% in 2025.
International body warns British rate will be higher than that in US, despite effects of Trump tariffs
The International Monetary Fund (IMF) has upgraded the rate at which the UK economy will grow this year.
Inflation will be back on the rise from March’s figures onwards but economists don’t believe huge interest rate rises are on the…
UK faces steepest price rises in G7 and an economic slowdown
