UK faces prolonged slowdown as inflation rises: report

Britain is facing a prolonged period of weaker economic growth as the plunge in the value of the pound pushes up prices for consumers, an influential think-tank has warned. The EY ITEM Club said the economy had been more resilient than expected following the vote to leave the European Union but this picture was deceptive. It predicts inflation - which has been below 1% for nearly two years - climbing to 2.6% in 2017.