Five charts that show the UK’s economic prospects in 2023

Inflation, faltering GDP and rising unemployment are all on the cards for the country this year

The UK is beginning 2023 on the brink of recession as households and businesses come under intense pressure from the cost of living crisis, with inflation at the highest rates since the early 1980s.

The Bank of England has said the country is on track for a prolonged recession, as households struggle to keep up with the soaring costs of food, energy and other basic essentials. Here are five charts for the UK's economic prospects in 2023.