Britain's economy faces a “prolonged period” of weaker growth as consumer spending slows and business curbs investment, BBC reported quoting EY Item Club.

Experts predict growth of the British economy by 1.9% in 2016. Stability of the country's economy after the referendum on Brexit was “deceptive”, EY said. Nearly 52% of Britons voted for Brexit then.

It is expected that inflation will jump up to 2.6% next year before easing back to 1.8% in 2018. That will cause decline in consumer spending to slow from an expected 2.5% this year to 0.5% in 2017 and 0.9% the year after, the report said.

According to the forecast of EY, business investment will also fall due to uncertainty surrounding Britain's future trading relationship with the EU, dropping 1.5% this year and more than 2% in 2017.

Analysts assume that the impact of weaker consumer spending and falling investment will cause UK GDP growth to drop sharply to 0.8% next year, before expanding to 1.4% in 2018.