DEVELOPING: IMF Warns UK Economy to Surge into Second-Fastest G7 Growth Spot

BREAKING NEWS IMF Predicts UK Economy to Surge into Second-Fastest G7 Growth Spot, But Faces Highest Inflation Rate The International Monetary Fund (IMF) has upgraded the UK's economic growth forecast, predicting it will be the second-fastest-growing of the world's most advanced economies this year. According to the IMF, the UK economy is expected to grow at a rate of 1.3% in both 2024 and 2025. This upgrade comes as the IMF also warns that the UK will face the highest rate of inflation in the G7, with prices forecast to rise by 3.4% this year and 2.5% in 2026, driven by rising energy and utility bills. The UK's economic growth outperforms other G7 economies apart from the US in 2025, but remains modest compared to previous years. The IMF notes that higher inflation is likely to be temporary and should fall to 2% by the end of next year. Chancellor Rachel Reeves has responded to the news, stating "for too many people, our economy feels stuck" despite the upgrade in growth forecast. This is a developing story, with further updates expected as more information becomes available. The IMF's predictions are based on its latest World Economic Outlook report, which provides a comprehensive assessment of global economic trends and forecasts. Developing Story Disclaimer: This article will be updated as new information becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*