Written Question·Treasury·UIN 23759
Inflation
Tabled: 14 January 2025
Answered: 22 January 2025
Question
Jim Shannon
Democratic Unionist Party — Strangford
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of recent trends in the rate of inflation on (a) consumers and (b) businesses.
Answer
Emma ReynoldsConsumer Prices Index (CPI) inflation has normalised after an inflationary shock resulted in it peaking at 11.1% in October 2022. The independent Office for Budget Responsibility say that they expect inflation to remain close to the 2% target throughout t...
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