Consumer Prices Index
(asked on 22nd January 2026) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to Chart 3.4 in the Office for Budget Responsibility’s Economic and Fiscal Outlook, what the annual percentage point contributions are to CPI inflation in each year by policy measure and output gap.
This question was answered on 28th January 2026
The contribution of each policy measure to CPI inflation in the Office for Budget Responsibility can be found in their supporting documents at the following link:
In total, the Office for Budget Responsibility forecast that Budget measures will reduce CPI inflation by 0.4pp in 2026/27, with the most significant impact coming from the reduction in energy bills.