New Delhi, 04 April 2022

As per news report of BBC, British consumers and businesses are expected to come under severe pressure from the cost of living increase as the economy’s growth slows down. According to the Office for National Statistics, 51% of Britons are spending less on non-essentials, 34% conserve gas and electricity usage, while 31% spend less on food and other essential products. “This really is a historic shock to real incomes,” the bank’s governor, Andrew Bailey, said at an event held by the Bruegel think tank in Brussels. “The shock from energy prices this year will be larger than every single year in the 1970s,” he added.

Source - BBC

Read More >>