How do UK inflation forecasts compare to Germany and France?

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UK Inflation Forecasts Remain Highest Among Major Economies in 2023

The United Kingdom's inflation is projected to remain the highest among leading rich economies in 2023, with the Organisation for Economic Co-operation and Development (OECD) forecasting an average rate of 7.2%. This figure represents an upward revision from the OECD's June projection of 6.9% and is notably higher than the expected inflation rates for Germany and France.
Upward Revision for UK Inflation

The OECD's latest forecasts indicate that Britain's headline inflation rate is set to average 7.2% over 2023. This is an increase from the 6.9% forecast made in June. This upward adjustment is the most significant for any Group of Seven (G7) economy, excluding Japan, in the updated projections from the Paris-based think tank.
Comparative Inflation Rates in Germany and France

In contrast to the UK's revised forecast, both Germany and France have seen their inflation projections for 2023 lowered by the OECD. Germany is expected to experience an average inflation rate of 6.1% for the year, while France's forecast stands at 5.8%. These figures are down from the OECD's previous estimates released in June.
Projected Slowdown in 2024

Looking ahead to 2024, the OECD projects a significant slowdown in UK inflation, with the rate expected to fall to 2.9%. This projected rate for the UK is identical to that of France and slightly lower than Germany's anticipated 3.0%. These figures suggest that while UK inflation is forecast to decrease substantially, it may still remain comparatively high in relation to some European peers.

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How do UK inflation forecasts compare to Germany and France?

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