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Inflation

Asked by Paul HolmesConservativeTreasuryTabled Answered 12 January 2026UIN 103889

The question

To ask the Chancellor of the Exchequer, what is her Department's estimate for annual CPI inflation in (a) 2025-26, (b) 2026-27, (c) 2027-28 and (d) 2028-29 financial years.

Answered by Lucy Rigby

HM Treasury does not produce forecasts for the UK economy. Forecasting the economy is the responsibility of the independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 November 2025.

In their most recent Economic and Fiscal Outlook, the OBR forecast CPI inflation to be 3.5% in 2025-26, 2.2% in 2026-27, 2.0% in 2027-28 and 2.1% in 2028-29.

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