Inflation

(asked on 30th June 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of recent rises in inflation on the standard of living for the lowest income households.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 7th July 2017

The Office for Budget Responsibility (OBR) expect inflation to average 2.4% over 2017 and 2.3% over 2018. Their forecast was reflected in the distributional analysis published alongside Spring Budget 2017.

The Government is taking action to support the lowest income households. This includes increasing the National Living Wage, raising the personal allowance, and freezing fuel duty.

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