Every nation in the world has been hit by the Iran War, so it is interesting to compare the UK with the rest of the G7.
It is currently the fastest growing of these major economies – while Japan has not yet reported, its growth figure is expected to be lower than the UK.
The IMF prominently forecast last month that the UK would be the hardest hit economy in the G7. It’s early days, but that has not come to pass yet.
This is possibly because household domestic energy bills have been protected.
But it may also be the case that this energy shock, which is more about oil than gas, has affected the UK less as Britain has become less sensitive to gas prices in recent years.
