- Inflation has reached record high levels, pushing up the cost of living for millions of Britons.
- UK stock markets have also performed poorly so far this year due to the economic slowdown and fears of recession.
UK inflation reached a record high of 9.1% in May. According to the Bank of England (BoE), it is expected to hit 11% later this year. The central bank is walking a tight rope in its attempt to bring down the high inflation through tougher policy actions, as they also put economic growth at the risk of a complete halt.
Despite the fears of recession, there are investors looking for opportunities to generate huge returns from penny stocks in the short term. These stocks come with greater risk due to high volatility but can also lead to big profits.