How is the inflationary trend over 2024 and 2025 expected to be driven, according to the passage?

Primarily by the manufacturing sector, due to increased production costs.
By a significant increase in energy prices, contributing to higher overall inflation rates.
Predominantly by the services sector, with wage growth expected to maintain inflation at elevated levels.
Through decreased consumer spending, leading to lower demand and thus lower inflation.

Correct answer: Predominantly by the services sector, with wage growth expected to maintain inflation at elevated levels.

Solution

The passage clearly states that inflation in 2024 and 2025 is expected to be driven predominantly by the services sector. It also mentions that wage growth in services will keep inflation elevated, while energy price contributions remain nominal.

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