U.K. inflation could surge to 19% by next year, Citi economist says

MarketWatch/Steve Goldstein/8-22-2022

“Just as consumers are getting used to double-digit inflation, a new forecast says U.K. inflation could reach 18.6% early next year. The eye-popping forecast, from Citi chief U.K. economist Benjamin Nabarro, comes as U.K. electricity prices are set to surge once the Office of Gas and Electricity Markets lifts the price cap.”

USAGOLD note: Tempest in a teapot or the shape of things to come? Some of the forecasted 19% inflation rate can be explained by Brexit, political turmoil and money printing, but there are other factors in play that apply to all economies, including the United States.

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