Households in the UK will suffer the highest inflation of any of the world ’s seven biggest economies this year and next, the International Monetary Fund has predicted. The influential economic body said prices here would increase more sharply than expected in both years compared with its previous forecasts in July. Experts warned it made the chances of another Bank of England rate any time soon cut less likely, in a blow to borrowers but a boost to savers. There was better news for Chancellor

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