A winter of discontent?
Many in government and industry fear we are about to embark on a Dickensian winter of discontent as energy commodity prices soar. Among ordinary citizens, the fuel supply is presenting serious fears of rationing, rolling ‘brown outs‘ and black outs as consumer price inflation continues at a torrid pace. Some assert the UK is already in the midst of a recession. Amid a period of high borrowing levels and rising inflation, it is worth considering the ramifications of this fraught moment and asking: as energy commodity prices soar across Europe, is the UK about to feel the chill?
Raphael J. Lewis and Jack Encarnacao, research analysts, Newton Investment Management
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1201106 Exp: 30 November 2023