Cold water for Sunak: the UK economy enters recession in full countdown to the elections. With the exception of 2020 due to the impact of the pandemic, last year was the worst year in economic terms in the United Kingdom since the financial debacle of 2009.
Inflation has meanwhile remained around 4%, above the target of 2.75% set for this year by the Bank of England. Despite the alarms caused by the ONS data, central party governor Andrew Bailey has warned that the recession will be short.