British budget: UK inflation to hit 4% next year on energy hikes

Without identifying effects of Brexit, British chancellor Rishi Sunak said energy prices would take months to ease and would not be solved overnight

UK chancellor of the exchequer Rishi Sunak holds his ministerial 'red box' as he stands with his ministerial team before delivering his budget.

British inflation is set to rise next year amid the pressures facing the country from global shortages and Brexit, although growth will be better than once expected to help it pay its substantial Covid and infrastructure bills, according to the autumn budget presented by its chancellor Rishi Sunak.                   

In key economic forecasts, Mr Sunak said the headline inflation was expected to average 4% next near – which suggests prices in Britain over the winter will rise sharply, while growth, in GDP terms, is now seen at 6.5%, up from the 4% expansion expected in March.