The key points made by witnesses on macroeconomic policy issues were: • Global energy prices...
The key points made by witnesses on macroeconomic policy issues were: • Global energy prices and supply chain disruptions arising from the pandemic are the main factors behind the outbreak of inflation. But second-round effects, in the form of inflation expectations among the public, and domestic factors in the UK, …
Government response. The government provides context on the economic situation since the report was published including the impact of global challenges, Putin's invasion of Ukraine, and high energy prices. It notes the high rate of inflation and deteriorating economic outlook.
HM Treasury