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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

UK households face second year without improved living standards, says IMF

International Monetary Fund United Kingdom United States PierreOlivier Gourinchas Inflation G7 WEO
Customers shop in a Lidl supermarket
The IMF said the cost of living crisis would not be over until 2025. Photograph: Tolga Akmen/EPA

Britain’s households will endure a second year without an improvement in their living standards in 2024 as the effects of high inflation take time to abate, the International Monetary Fund has revealed.

In its flagship World Economic Outlook (WEO), the Washington-based IMF said it was forecasting modest 0.5% UK growth this year – but only as a result of a rising population.

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