16:11 - 5.08.2026

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August 5, Fineko/abc.az. Consulting company EY has warned that the UK economy will plunge into recession in 2027 if the Strait of Hormuz is not reopened to shipping by the middle of next year.

According to this scenario, inflation in the country could rise to 6.4% by the end of 2026. In the case of the resumption of shipping in the next two months, the peak of inflation this year will not exceed 3.5%.

Peter Arnold, chief economist at EY UK, noted that opening of the Strait in the coming months will allow the UK to avoid deep recession, but prolonged lockdown until 2027 will trigger a spike in inflation and contraction of the economy next year.