Report: UK inflation pressures hits three-year high; Nobel prize for economics awarded today – business live

The Guardian — Business has reported on “Report: UK inflation pressures hits three-year high; Nobel prize for economics awarded today – business live,” presenting it as the central development in the source material available for this brief.

The available account reports that rolling coverage of the latest economic and financial news The surge in inflation following the start of the Iran war has taken a bite out of the UK’s spending plans, the Institute for Fiscal Studies (IFS) is warning this morning. The report also notes that The IFS has calculated that chancellor John Healey is facing a funding gap of up to £35bn, as rising inflation has eroded the value of government departments’ cash budgets, and also driven up government borrowing costs.

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