"Amid growing indications that many supply chain disruptions and raw material shortages are unlikely to be fully resolved until 2022, the outlook remains one of constrained growth combined with high inflation for the foreseeable future," Rob Dobson, a director at IHS Markit, said. The Bank of England looks set to raise its forecasts for inflation on Thursday, at the end of its August meeting. But most of its policymakers are expected to stick to their view that the rise in prices is largely transitory, meaning no curtailment of the BoE's pandemic emergency stimulus programme.