Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment he has made of the main causes of the level of inflation.

High inflation is the greatest immediate economic challenge that we must address. That is why the Government has made it a priority to halve inflation this year, and we will not hesitate in our resolve to support the Bank of England as it takes action to return inflation to the 2% target. We are on track to do this: the majority of major forecasters agree in forecasting inflation to halve by the end of the year and subsequently return to target.