Bank of England: The budget is likely to push inflation by about 0.1 to 0.2 percentage points in 2027 and 2028. Inflation is expected to fall to around 3% in the first quarter of 2026 and be closer to 2% in the second quarter. Inflation is expected to rise temporarily in December 2025 due to tobacco taxes and ticket prices.

Bank of England: The budget is likely to push inflation by about 0.1 to 0.2 percentage points in 2027 and 2028. Inflation is expected to fall to around 3% in the first quarter of 2026 and be closer to 2% in the second quarter. Inflation is expected to rise temporarily in December 2025 due to tobacco taxes and ticket prices.