Boozy Brits boosted New Year economy as they celebrated easing of Covid restrictions

BOOZY Brits boosted the New Year economy as they celebrated the easing of Covid restrictions.

Omicron wrecked many Christmas parties and sent growth into decline in December.

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The boost to the economy was fuelled by bumper food and drink sales in January, which rocketed by 6.8 per cent after plummeting by eight per cent in December[/caption]

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Chancellor Rishi Sunak warned the economic boom may only be brief and families should brace for a painful year of rocketing food and energy costs[/caption]

But UK Plc roared back in January — booming by 0.8 per cent, the Office for National Statistics found.

This was fuelled by bumper food and drink sales, which rocketed by 6.8 per cent after plummeting by eight per cent in December.

Every sector grew in January, the statistics show.

The economy is now 0.8 per cent bigger than it was before Covid struck in February 2020.

Boris Johnson said the statistics show “our economy is in a strong position to deal with current challenges and we’ll continue to support people where we can”.

Darren Morgan, of the ONS, said: “GDP bounced back from the hit it took in December due to Omicron and is now 0.8 per cent above its pre-pandemic peak. 

“All sectors are now performing well, including wholesaling, retailing, restaurants and takeaways.” 

But Chancellor Rishi Sunak warned the economic boom may only be brief and families should brace for a painful year of rocketing food and energy costs.

He said: “We know that Russia’s invasion of Ukraine is creating significant economic uncertainty and we will continue to monitor its impact on the UK.

“But it is vital we stand with the people of Ukraine to uphold our shared values of freedom and democracy and ensure Putin fails.” 

Mr Sunak is under growing pressure to come up with a bigger plan to support families struggling through the worst cost of living crisis in a generation.

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