UK inflation hit double digit figures this month, with CPI at 10.1%. The Bank of England had prompted jitters earlier this month when it said inflation would peak at 13%, but fast-rising prices for natural gas “have left economic predictions out of date,” says the Financial Times, and UK inflation forecasts have gone through the roof.
Bank Of America expects inflation to reach 14%, while both EY and Goldman Sachs expect it to hit 15%. The most pessimistic projection comes from Citigroup, which says UK inflation could hit more than 18% next year, exacerbating a full blown cost of living crisis.
Distribution Finance Capital Holdings plc (LON:DFCH) is UK specialist commercial lending and personal savings bank. From straightforward savings to practical finance solutions, our aim is to help customers manage and grow their business or savings. Founded as a specialist commercial lender in 2016, DF Capital was authorised as a bank in September 2020.