Stagflation: What is it, and what can be done to tackle it?

Recession will grip the UK for more than a year, the Bank of England has predicted (Yui Mok/PA)

(Picture: PA Wire)

A recent report has warned that the UK is headed for a recession that will plunge millions of vulnerable households across the UK into financial crisis.

It was published by the National Institute of Economic and Social Research (NIESR), Britain’s oldest independent research institute.