January’s GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cut
Business live – latest updates
The UK economy entered the Middle East crisis after a weak start to the year, according to official figures showing flatlining January output before the US-Israel war on Iran hit global energy prices.
Figures from the Office for National Statistics (ONS) showed zero growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget.
Continue reading…January’s GDP figure comes as higher energy prices look likely to drive up inflation, dashing hopes of interest rate cutBusiness live – latest updatesThe UK economy entered the Middle East crisis after a weak start to the year, according to official figures showing flatlining January output before the US-Israel war on Iran hit global energy prices.Figures from the Office for National Statistics (ONS) showed zero growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding the chancellor Rachel Reeves’s autumn budget. Continue reading…
