The UK is expected to have inflation of 3% at the end of 2022, the highest rate of the advanced economies.
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The OECD is forecasting higher inflation across the developed world, with the UK expected to have 3% inflation by the end of 2022, but falling inflation in a number of other economies.
The causes? Self-evident to be honest - higher raw material costs, supply chain issues and higher levels of consumer demand all play a part and can be shown by elementary AD-AS analysis.