-- The International Monetary Fund lowered its UK economic growth estimates for 2026 and 2027 as energy prices surge due to the Middle East conflict.
In its latest World Economic Outlook published Tuesday, the IMF said the British economy is anticipated to grow 0.8% in 2026, down from its previous estimate of 1.3% in January.
For 2027, the UK's gross domestic product growth expectations were reduced to 1.3% from the prior 1.5%.
Meanwhile, the country's inflation rate is expected to be at 3.2% in 2026, before easing to 2.4% in 2027. In its previous outlook, the IMF expected the UK's inflation rate to reach the Bank of England's 2% target by the end of 2026.