British Think Tank Believes Inflation Will Wreck in the United Kingdom

British Think Tank Believes Inflation Will Wreck in the United Kingdom


The National Institute of Economic and Social Research (NIESR) issued a report on August 3, 2022 indicating that inflation in the United Kingdom will rise to “astronomical” levels for the rest of the year. 

The British think tank argues that inflation will compel the Bank of England to pursue interest rate hikes that could last longer than previous expectations. 

The NIESR report also noted that there would be a long recession that would go well into 2023, which would negatively impact households that are already in a precarious economic state throughout the UK.

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The think tank believes that the growing cost-of-living crisis would eat away at the savings of British households unless British policymakers provided immediate financial aid to British households. 

Stephen Milliard,

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