The peak of inflation should come in the fall.

London, 19 May. Prices for goods and services in the UK could rise by 13.1% by the end of next year. This is reported by Bloomberg with reference to the International Monetary Fund’s estimate.

According to the IMF, the expected price increase is the highest among the G7 countries. Also in 2023 London could fall to the bottom of the group due to low growth rates. The UK’s National Institute for Economic and Social Research believes the country will remain in recession until next year.

According to Alfred Camera, director of the IMF’s Europe department, the inflationary shock for the British will be more severe than for those residing in the US and Europe, as the country combines “the worst of both worlds” – a labor shortage and an energy crisis.

The special operation of the RF Armed Forces on Ukraine and the subsequent anti-Russian sanctions caused a crisis in the economy of many countries, including the UK. The Bank of England expects inflation to rise above 10.2% in the fall, when electricity bills are paid for the second time this year. The head of the financial organization, Andrew Bailey, warned MPs that the UK is facing a “doomsday” rise in food prices due to the events in Ukraine.

At the end of May, the annual inflation rate in the UK jumped to a 40-year high due to the rapid rise in the cost of energy. The growth of the consumer price index (CPI) was 9% on an annual basis in April and 7% in March.