Households to spend 7.5-8% of income on energy...
The latest forecasts from the Bank of England say that, by the end of this year, households will be spending somewhere between 7.5% and 8% of their income on energy; they also say that GDP will not be growing, even though inflation will be running at 10.2%. And the Bank also expects unemployment to rise from 3.8% now to 5.5% in 2025.
We haven’t seen figures like this for nearly half a century… what’s different this time around?
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