World Bank building in Washington DC. File photoMOSCOW, Jun 7The World Bank (WB) expects inflation to peak by mid-2022, followed by a decline in price growth, but also sees the risk of stagflation, as it was in the 1970s, says in the report.»Inflation is expected to peak around mid-2022 and then gradually decline as global growth slows, demand shifts away from goods and towards services, supply chains are reestablished, and commodity prices, including energy, are falling. 
Fuel prices continue to rise in the UK in January to 2.9 percent and for 2023 — from 3.2 percent to three percent. Experts attribute the slowdown to the coronavirus pandemic, as well as the situation in Ukraine, which, as noted, leads to higher prices for raw materials and increases the risk of supply disruptions. «These events raise concerns about stagflation — a period of both weak growth and high inflation, similar to what happened in the 1970s,» the World Bank notes. In 1973, inflation jumped to 10.3 percent with rising oil prices. Inflation remained high until the 1982 recession. However, some researchers believe that the experience of the struggle of the 70s will help prevent such a development. Italy expects rising inflation, according to Istat
