The UK has a 50/50 chance of falling into economic recession within the next 18 months, experts said, BBC reported.

According to the estimates of the National Institute of Economic and Social Research (NIESR), the country will face a “marked economic slowdown” during this and next year. In addition, the growth of inflation is expected to go up to 3% by the end of 2017, first of all this will be connected with falling of cost of national currency.

“This is the short-term economic consequence of the vote to leave the EU”, Simon Kirby of the NIESR said.

According to the forecasts of the Institute employees ,in general, the economy of Britain is likely to grow by 1.7% in 2016, but will expand by just 1% in 2017.

“We expect the UK to experience a marked economic slowdown in the second half of this year and throughout 2017,”Kirby considers.

Meanwhile, British buyers benefit from falling of the prices in shops, the prices dropped by 1.6% as compared to last July. Food prices fell by 0.8% in comparison with last year and nonfood by 2.2%.