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Although the eventual impact of the escalating war in the Middle East is unknowable, the increase in the price of oil and gas means we already know energy and petrol costs are set to rise. Knock on effects will hit food prices and wider inflation, not to mention the second-round effects on wage negotiations, interest rates, debt-servicing costs and wider economic growth. The Resolution Foundation is hosting a pair of events in April to unpack what the effects of the war are on the UK economy, and how policy makers should respond.
Part I will focus on the coming cost of living crunch.
What is the outlook for petrol prices, energy bills, the cost of a supermarket shop and wider inflation? How might this affect the outlook for family living standards? Can the Government respond to this coming cost of living crunch effectively? And how can it balance the need to provide clear, effective and targeted support with a price tag that the UK economy can afford?
The Foundation will be joined by leading experts in their fields to discuss the impact on households, and how the Government should respond.
Part II will focus on what the economic fallout of the war could mean for growth and the state of the public finances, and how this could shape future interest rate decisions and the next Budget. This event will take place on Wednesday 22nd April.
