Steepest decline in living standards on record’ forecast as recession expected to last until the end of 2023
Steepest decline in living standards on record’ forecast as recession expected to last until the end of 2023
What the editorial said ?
There is little uncertainty about what lies in store in the short term,” said The Times. The rise in interest rates and soaring energy prices will cause “the steepest decline in living standards on record, with household disposable income forecast to fall by 3.7% over the next two years”.
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source
https://www.bloomberg.com/opinion/articles/2022-08-09/uk-economy-bank-of-england-s-apocalyptic-prophesies-fall-on-deaf-ears
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