Ukraine crisis keeps escalating. The report found inflation will hit 8.4% later this year - which will mean a 2% drop in household incomes - marking the biggest fall in real wages since the 1970s and the largest decline in living standards since records began.Russia’s invasion of Ukraine and belt-tightening among households and businesses means the economy will grow at a slower-than-expected rate of 3.8% in 2022.
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