Sanctions On Russia, Could Dramatically Impact, UK Living Standards.<br />'The Guardian' reports that economists fear shockwaves <br />from Russia's invasion of Ukraine could cut living<br />standards in the UK by over $3,000 per person. .<br />'The Guardian' reports that economists fear shockwaves <br />from Russia's invasion of Ukraine could cut living<br />standards in the UK by over $3,000 per person. .<br />Those shockwaves could also reportedly <br />lead to continued inflation and <br />a potential economic standstill.<br />Economic measures taken against Russia <br />have reportedly cut forecasters' estimates <br />for economic growth in 2022 and 2023. .<br />According to the Centre for Economics and Business <br />Research (CEBR), living standards could take their <br />biggest hit since records began being kept in 1955. .<br />'The Guardian' reports that CEBR halved estimates <br />for growth in 2022 from 4.2% down to 1.9%. .<br />The consultancy's growth estimate for 2023 <br />was reduced from 2% down to a grim 0.0%. .<br />CEBR predicts that inflation, which peaked at 8.7% <br />in the spring, will remain above 7% into early 2023. .<br />As a result of higher commodity prices, <br />we estimate that disposable incomes <br />will fall in 2022 by 4.8% with <br />further fall of 1.4% in 2023, Centre for Economics <br />and Business Research, via 'The Guardian'.<br />The forecast fall in living standards <br />this year is an estimated £71bn – <br />which amounts to £2,553 per household, Centre for Economics <br />and Business Research, via 'The Guardian'.<br />As a result, we estimate that <br />disposable incomes will fall in 2022 <br />by 4.8% with a further fall of 1.4% in 2023. <br />The fall in 2022 is the largest <br />since records started in 1955, Centre for Economics <br />and Business Research, via 'The Guardian'
