The U.K. is set to report a headline inflation of 6.9% this year, according to the OECD, marking the highest such level among all advanced economies.

The report said inflation was set to be stickier than hoped, with the best performer among the G7 is set to be the US, growing by 1.6% this year before easing to 1% in 2024.

Britain will have the highest inflation of any leading economy in 2023, according to forecasts from the Organisation for Economic Co-operation and Development which show Prime Minister Rishi Sunak will miss his promise to halve price growth this year.

UK economy set for highest inflation and close to slowest growth of G7 countries - Inflation in Britain is forecast to average at 6.9% for 2023, the Organisation for Economic Co-operation and Development found.

The latest update from the Paris-based body sees risks ahead from energy prices, which could leap substantially again ahead of the coming winter, and rising interest rates.