UK forecast to have highest inflation among richest nations

The UK is expected to have the highest inflation rate among the world's richest nations, according to a leading policy group. The influential Organization for Economic Co-operation and Development (OECD) has revised its forecast for the UK's inflation rate, predicting it will reach 3.5% in 2025. This revised projection is significantly higher than the OECD's previous estimate and highlights the persistent inflationary pressures facing the UK economy. The report suggests that the UK's inflation rate will remain elevated, even as other major economies, such as the United States and the Eurozone, see their inflation rates moderate. The OECD's forecast underscores the challenges the UK government and the Bank of England face in managing the country's economic recovery and controlling rising prices. Policymakers will likely need to carefully balance measures to curb inflation while supporting economic growth and ensuring the well-being of households and businesses.