Ukraine conflict could push inflation past 8% and contribute to fall in household income in 2022 equivalent to £1000 compared to 2020/21
On top of other forces causing a squeeze on household incomes this year the conflict in Ukraine, according to a new report by the Resolution Foundation think tank, could cause a further £1000 drop in non-pensioner household income this year as compared with 2020/2021.
This could be a further blow to, amongst others, private renters who will face further pressure on their ability to pay their rent on time.