Bank of England: The government budget is expected to reduce the inflation rate by 0.25 percentage points by the second quarter of 2027, then increase by the same amount in a year as the impact subsides. CPI will fall back to the 2% target in the third quarter of 2028.

Bank of England: The government budget is expected to reduce the inflation rate by 0.25 percentage points by the second quarter of 2027, then increase by the same amount in a year as the impact subsides. CPI will fall back to the 2% target in the third quarter of 2028.