UK inflation could hit 18 percent next year: Citi forecasts

US bank Citi raises its UK consumer price forecast in the light of the latest jump in energy prices.

British consumer price inflation is set to peak at 18 percent in early 2023, according to an economist at US bank Citi, raising his forecast once again in the light of the latest jump in energy prices.

The figure is nine times the Bank of England’s annual inflation target of

“The question now is what policy may do to offset the impact on both inflation and the real economy,”…