UK inflation could hit 18 percent

Surging energy prices will drive UK inflation to more than 18 percent in early 2023, the highest rate among larger western economies, according to a report from Citigroup


EUROPE INFLATION: Selected countries (Jul 2022)		European Union

Estonia   	23.2%
Latvia   	21.3%
Lithuania   	20.9%
Czech Republic  17.3%
Bulgaria   	14.9%
Hungary   	14.7%
Poland   	14.2%
Romania   	13%
Slovakia   	12.8%
Croatia   	12.7%
Netherlands 	11.6%
Greece   	11.3%
Spain   	10.7%
Belgium 	10.4%
UK   		10.1%	18.6% Jan 2023 forecast
Germany 	8.5%
Italy   	8.4%
France 		6.8%

UK consumer price inflation was last above 18 percent in 1976, after oil supply shock devastated global economy
 

Sources: Eurostat, Financial Times 
Picture: Getty Images 
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