Back to today’s briefing

Story perspectives

UK Economy Stagnates Amid Rising Energy Prices and Inflation

3/14/2026

46 8

Summary

Story summary

The Office for National Statistics reports the UK economy stagnated in January with zero GDP growth against a 0.2% forecast.
Energy prices have risen, tied to the US-Israel conflict in Iran, fueling inflation and raising the risk of 3% by year-end.
The services sector showed no growth and housing work fell 5.6%, worst since March 2020.
Chancellor Rachel Reeves says the government must adapt its plan to navigate turbulent conditions.

1 of 1

Story summary

The Office for National Statistics reports the UK economy stagnated in January with zero GDP growth against a 0.2% forecast.
Energy prices have risen, tied to the US-Israel conflict in Iran, fueling inflation and raising the risk of 3% by year-end.
The services sector showed no growth and housing work fell 5.6%, worst since March 2020.
Chancellor Rachel Reeves says the government must adapt its plan to navigate turbulent conditions.