A recession and a cost of living crisis will dominate the headlines, but it’s not all bad news for the UK economy, writes City A.M. economics correspondent Jack Barnett

I’m wondering if I’ll be out of the job this year.

Covering economics in 2022 was a wild ride. Inflation returned with a vengeance. Interest rates returned to their financial crisis levels. Botched economic policy handed Liz Truss the unwanted title of shortest serving prime minister ever.

It’s been tiring, but there hasn’t been a shortage of things to write about.

That might all be coming to an end. There may even be reasons to be cheerful in 2023.

Inflation – and this is going out on a limb and may come back to bite me – has passed its peak.

October’s 11.1 per cent reading likely marked the worst of the recent price surge. The rate dropped to 10.7 per cent in November.

What we’re now headed into is a drawn out period where inflation stays elevated, but gradually falls.

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