Energy prices could push UK inflation to 22%, a near post-war record

Goldman Sachs warns inflation could inflation peak above 22%, adding more pressure to households and businesses

Inflation in the UK could top 22% next year, close to the post-war record set in 1975, if wholesale energy prices remain at current high levels, Goldman Sachs has warned.

Highlighting the pressure on households and businesses, the US investment bank said inflation could peak at 22.4% next year if wholesale gas and electricity prices continue to spiral over the winter.