The UK is grappling with the economic fallout of a sharp rise in energy prices, with consumers and businesses bearing the brunt of the surge.
According to a recent report from CNBC's UK Exchange newsletter, the price shock is having a dire impact, despite the UK theoretically being less exposed than some of its peers.
The report draws comparisons to the 1970s oil crisis, when energy shortages led to widespread economic disruption.
The current energy price surge is contributing to broader macroeconomic concerns, with the Bank of England (BoE) and GDP growth under pressure.
Energy-intensive sectors, including manufacturing and transportation, are particularly vulnerable.
The situation is also adding to inflationary pressures, which could influence the BoE's upcoming policy decisions.