Budget 2021: Inflation to rise to 4% but less economic ‘scarring' than predicted
Inflation is to spike to 4 per cent next year as the economy struggles to keep up with demand in the wake of Covid and Brexit, the Chancellor has revealed.
In his Budget speech to the Commons on Wednesday Rishi Sunak said inflation was 3.1 per cent in September and is "likely to rise further",.
He revealed that the Office for Budget Responsibility now expected CPI to average 4 per cent over next year.
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