Rachel Reeves has been delivered another major blow ahead of next month’s make-or-break Budget as the International Monetary Fund (IMF) warned inflation will surge to the highest in the G7 in 2025 and 2026.
The beleaguered chancellor has struggled to foster the economic growth promised when Labour was elected last year, and the latest outlook report suggests British households will face the fastest-growing costs among the G7 group of advanced economies, driven in part by rising food and hospitality prices.
