Disposable income in UK to drop to its lowest since 1950s – report ...News

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Disposable income in UK to drop to its lowest since 1950s – report
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Experts say that high inflation would force Britons to spend less, causing a downturn in the economy The UK is poised to enter a ‘household recession,’ as soaring prices weaken consumer confidence and force people to cut back on spending, the Confederation of British Industry (CBI), a leading business group that speaks for 190,000 UK businesses, has said, in an economic forecast issued on Monday. CBI analysts estimate that due to high inflation, real household disposable incomes would drop by 2.3% by the end of the year, which would mark the largest annual decline since record-keeping began in the mid-1950s. “Hous

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