Consumer Prices Index

(asked on 4th September 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the UK leaving the EU on the Consumer Prices Index rate of inflation.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 12th September 2017

In their March 2017 Economic and Fiscal Outlook, the OBR forecast that CPI inflation would be 2.4% in 2017, up from 0.5% in 2016 as the depreciation in sterling and rising commodity prices fed through to higher prices. The OBR forecast inflation to be 2.3% in 2018, before falling back to 2.0% in 2019.

The Government has taken action to support people with the cost of living by increasing the National Living Wage, raising the personal allowance, and freezing fuel duty.

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