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UK inflation set to be highest of advanced economies
Prices will rise faster in the UK than any other advanced economy this year, a forecast suggests. The Organisation for Economic Co-operation and Development said UK inflation would average 7.2% in 2023. The think tank said this would be the highest rate in the G7 group, which includes the US, Germany, France, Japan, Canada and Italy. The government said it was confident it was "on the right track to halve inflation" by the end of 2023. It added that the OECD's forecast "illustrates yet again why we need to stick to the plan that we have set out". The OECD, a globally recognised think tank, raised its forecast for UK ... (full story)