Inflation
(asked on 1st February 2017) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of increased inflation on low-income households.
This question was answered on 7th February 2017
The Office for Budget Responsibility (OBR) expect inflation to increase to 2.5 per cent by the end of 2017 and peak at 2.6 per cent in Q2 2018. Their forecast was reflected in the distributional analysis published alongside Autumn Statement 2016. The government is taking steps to support low-income households, including raising the National Living Wage, raising the personal allowance, freezing fuel duty, and providing more affordable homes.