UK inflation could peak above 18% in early 2023, bank predicts

A new forecast from the bank's chief economist, Benjamin Nabarro said with inflation still firmly in the spotlight, there will be "even more trouble ahead" for the UK at the start of 2023. Victoria Scholar, head of investment at investment platform interactive investor, said: "We have been inundated with more and more inflationary figures so far this year, so to bring the latest outlook from Citigroup into context, this 18.6% figure at the start of next year would be higher than the peak in 1979 - when CPI (Consumer Price Index) hit 17.8% following the OPEC (Organisation of the Petrol...