GDP growth fell more than expected to 0.3% in the first quarter from 0.7% in the previous quarter, the Office for National Statistics said. UK economic growth slows to 0.3% as inflation bites - business live Read moreMany economists expect the slowdown to continue as higher inflation dents consumer spending, a key driver for the UK economy. A leading thinktank underscored the pressures on household budgets as it noted the weakness in wage growth started long before the Brexit vote. “The good news is that the surge in inflation is probably temporary and the squeeze on growth should pass. It added that the Brexit vote had also increased instability in the UK as “highlighted by the snap election called for June 2017”.

Source: The Guardian April 28, 2017 08:37 UTC