“UK Economy Outlook: OBR Charts Show Energy Price Shock Hits Growth and Living Standards | ” — what this page in the network covers. The Office for Budget Responsibility (OBR) has released new analysis showing how soaring energy prices are set to ripple through the UK economy. The independent fiscal watchdog warns that higher gas and electricity costs will push up inflation, squeeze household incomes, and drag down GDP growth. The impact is broad-based, affecting everything from consumer spending to business investment.
The OBR's latest charts illustrate a sharp deterioration in the economic outlook compared with its previous forecast, with real household disposable income per person falling at the fastest annual rate since records began in the 1950s. While the government has announced support packages to cushion the blow, the OBR notes that these measures only partially offset the hit to living standards. This listing links straight to the original page, where the content is available in full.