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2018 for British customers: price surges, volatile sterling and interest rate hikes
In 2018 UK price rises are generally anticipated to continue. Moreover, they might soar further if there are tough Brexit glitches.
Looking back over 2017, there were a couple of signs of relief for the average British household. Well, the knock-on effects of the Brexit referendum generated price leaps on everyday items, ranging from electronics to butter, while the Bank of England lifted interest rates for the first time in a decade, thus leaving the UK financial institutions open to raise the mortgage repayments of homeowners.
While inflation is heading north, it accounted for 3.1% in November. Apparently, wage surge hasn’t matched the soar, thus bringing a squeeze on the average household budget.
The family’s annual holiday in the sun happens to be more expensive as the weaker sterling actually affects the price of travelling abroad.
Most market experts expect the hikes to keep unrolling in 2018.
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