Contributor(s): Professor Nicholas Barr | Demand is going up, supply is going down, and costs are rising. Everything that causes inflation is operating together. In this short video, LSE’s Professor Nick Barr explains what's happening to cause prices to rise so drastically in 2022 — not just in the UK, but around the world. Catch up with more from this series, where LSE academics explore the inflation situation. Explore our dedicated hub showcasing LSE research and commentary on the state of the UK economy and its future.