fbpx

Experts warn inflation could keep rising in 2023

Economic analysts have warned that the rate of inflation could keep rising in 2023 as a result of rising energy prices.

Think tank the Resolution Foundation stated that inflation could go above 15%, whilst investment bank Citi said that it is ‘entering the stratosphere’ and could reach 18.6%.

Predictions outlined by the Bank of England (BoE) have suggested that inflation could rise to over 13% later this year.

Commenting on the matter, James Smith, Research Director at the Resolution Foundation, said:

‘Inflation has hit double digits earlier than expected off the back of the highest food price inflation in over two decades, and is set to continue climbing as energy bills soar this winter.

‘There is no escaping this cost-of-living crisis, with pay packets shrinking at their fastest pace since 1977 and low-income households facing the prospect of cutting back ‘non-essential’ spending by 25% to cope with energy bills of over £4,000 from January.’

Internet link: Resolution Foundation website

Leave a Reply

Your email address will not be published. Required fields are marked *

Asmat Accountants

Asmat & Co are one of Berkshires’ leading independent firms of Accountants servicing a growing and satisfied clientele. At Asmat & Co expert advice is available from senior qualified Chartered Management Accountants (ACMA) and Chartered Certified Accountants (ACCA), at very attractive packages tailored to suit varied individual and business requirements. The professional team at Asmat & Co. possesses extensive experience in providing accounting, tax, finance transformation and business advisory services to a diverse customer base.

CONTACT US


  • 84 High Street, Slough, Berkshire SL1 1EL, United Kingdom
    Get directions >>
  • 01753 424968 / 02035 988 621
  • 01753 437109
  • info@asmataccountants.co.uk

Reading Office

  • 365-367 Oxford Road, Reading, RG30 1HA
    Get directions >>
  • 0118 950 9841
  • reading@asmataccountants.co.uk



× Chat with your accountant now!