BANK of England deputy governor Ben Broadbent has warned the UK is likely to be facing the worst ever external hit to national income from inflation as the Ukraine war compounds the cost-of- living crisis.

Sunak has said the nation must prepare for “the economy and public finances to worsen, potentially significantly” because of the impacts of Russia’s invasion of Ukraine.

A MARKED improvement in the north’s economy last month could be short-lived in the wake of Russia’s invasion of Ukraine, a new report from Ulster Bank suggests.

THE supply of people and skills is the singular key challenge for Northern Ireland in the 2020s, according to the Ulster University Economic Policy Centre’s newly-published spring outlook.

Growth in the UK economy slowed to its lowest in 11 months as the spread of Omicron variant weighed on consumer activity, according to early economic data.

THE UK economy will grow at a slower pace than expected next year, with trade set to lag "significantly", a business group is predicting.

THE UK economy grew in August as the full lifting of coronavirus restrictions boosted events and hospitality, but official figures revealed a contraction in July.

THE north’s economy contracted by 1.6 per cent in the first quarter of 2021, with the private sector taking a hefty hit as a result of Covid-19 restrictions.

BUSINESS conditions improved significantly in the north during May, but severe rates of inflation continue to act as a potential headwind to the rapid economic recovery from the pandemic.