Inflation
The Βι¶ΉΤΌΕΔ's Cost of Living Correspondent, Colletta Smith, looks at the current state of inflation and whether we're likely to see an improvement any time soon.
The International Monetary Fund is forecasting that the UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households. The IMF said the economy will contract by 0.6% in 2023, rather than grow slightly as previously predicted.
However, the IMF also said that plans - set out in the Autumn Statement - suggests the UK is now "on the right track".
The IMF, which works to stabilise economic growth, said its new forecast reflected the UK's high energy prices and factors such as high inflation. For 5 Questions On, the Βι¶ΉΤΌΕΔ's Cost of Living Correspondent, Colletta Smith, looks at the UK's current state of inflation and what we can expect in the coming year.
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