Report Overview

Cost-of-living crisis: The UK economy sputters

Contents

The UK economy is going sideways as the cost-of-living crisis dents retail volumes

The financial gulf between high- and low-earning households is being driven by inflation

GDP growth in May—achieved through rapid digitisation and pent-up demand for travel and transportation services—masks stalling consumer-facing services

List of Figures and Tables

Figure 1: Retail volumes (£m) and monthly GDP (indexed), 2019-2021

Figure 2: UK monthly CPI by category (2015=100)

Figure 3: Total average weekly household expenditure by decile (£)

Figure 4: IMF G7 GDP growth projections (%)