UK ad spend hit a record high in the first quarter of this year but growth is expected to slow this year and then go into reverse next year once inflation is taken into account.

UK ad spend saw a year-on-year rise of 28.3% in the first three months of 2022, reaching a total of £8.6bn according to the latest quarterly figures from Advertising Association and marketing agency WARC.

All media recovered compared to the first three months of 2021, when the country was still in a national lockdown, and forecasts for the quarter were exceeded.