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As per an Economist at Citi group benjamin Nabarro the inflation rises in 2022 for the united kingdom (UK)

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would force the bank of England to act forcefully. The bank of England's target is that

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UK inflation will drop below 2pc until the middle of 2024 but Citi Group does not expect that.

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The economist, Benjamin Nabarro also says that for the month of August 2022 the inflation rate

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forecast was set to 13pc but it is substantially higher than the peak. The investment bank Citi warns

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inflation in the UK would be double to 18.6pc in the coming months (expected for January 2023)

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due to the reason of rising prices of energy. After this according to Citi Group, the Bank Of England (BOE)

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 would be forced to raise interest rates to 7pc. This situation is the same for the year 1976

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when the inflation was higher than 18.6pc due to the oil crisis. The Citi Group expects

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a £40 billion support package that the government will launch. Gas prices would put an impact on inflation, said Citi Group.