Inflation
(asked on 2nd June 2025) - View Source
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the latest consumer price index figures; and what plans they have to address these figures.
This question was answered on 16th June 2025
The OBR, in their Spring forecast, expect inflation to fall back towards the Bank of England's 2% target in 2026.
The Bank of England has the responsibility of controlling inflation and the Government fully supports them as they take action to sustainably return inflation to the 2% target. The independent Monetary Policy Committee (MPC) at the Bank of England has cut Bank Rate four times since August as underlying inflationary pressure has eased.