Uk Gdp Forecast 2024. Inflation to average 3.6% in 2024, 2.8 percentage points higher than forecast in march, and to more gradually return to the 2% target in 2025 Inflation is expected to return to its 2% target in the first half of the year, which should pave the way for interest rate cuts from the summer.

Real gdp growth is now forecast at 0.7 percent in 2024 (a slight upgrade from the 0.5 percent in the april weo), before rising to 1.5 percent in 2025 as disinflation buoys real incomes and financial conditions ease. The cbi’s latest uk economic forecast shows that: