At the moment, the UK has certainly suffered a severe supply shock, but coronavirus has imposed a demand shock to match. And when demand comes back, there is very little to stop supply from rising to meet it. ... So the good news is that hyperinflation in the UK seems highly unlikely.

Are we heading for hyperinflation in 2021?

The 2021 Inflation Scare is another in a series of false alarms going back several decades. It may not quite qualify as Fake News, but it is close. Start with this Plain Fact: Inflation has disappeared from the U.S. economy. The Core Consumer Price Index has not exceeded 3% since 1995.

Is inflation going to be a problem in 2021?

They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023. That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.