UK economy improving but high costs slow Sunak bounce

• UK economy showing signs of improvement, but voters not giving PM Sunak credit due to continued high inflation and cost of living squeeze • Prices still up 20% over 3 years; electricity, gas up 90%; food up 30%
• Interest rates, energy bills may fall soon, but broader borrowing costs, rental and council tax increases still biting • Real household incomes not expected to recover to pre-pandemic levels until end of 2025 • Even if economy improves more, voters may not feel benefits before next election expected by end of 2024