Bangladesh, Dec. 27 -- Britains long-running cost-of-living crisis is no longer a temporary shock but a structural decline, according to a stark new forecast from the Centre for Economics and Business Research (CEBR). The UK-based think tank warns that high inflation, weak growth, and mounting debt are steadily eroding living standards, leaving British households poorer than before the Covid-19 pandemic and pushing the country down the global economic rankings. Far from regaining lost ground, the UK is now expected to fall further behind most of its G7 peers over the coming decade.

CEBRs World Economic League Table, released on December 26, paints a sobering picture. The report projects that the UK will slip from 19th to 22nd place in gl...