Inflation reached its highest rate in nearly 30 years in December – and the EY ITEM Club expects CPI inflation to peak at just over 6% in April. But this will be heavily influenced by the scale of the rise in the energy price cap and any government action to mitigate cost of living pressures. Risks lie to the upside
A robust 0.9% month-on-month (m/m) rise in GDP in November left the economy, on an output basis, 0.7% bigger than its immediate pre-pandemic size. But a drag on activity from the Omicron variant means that output probably fell back in December
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