PARLIAMENTARY WRITTEN QUESTION
Consumer Price Index (6 July 2017)
Question Asked
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the rise in the Consumer Price Index on consumer spending habits in each of the last 12 months.
Asked by:
Kirsty Blackman (Scottish National Party)
Asked by:
Kirsty Blackman (Scottish National Party)
Answer
In their March Economic and Fiscal Outlook, the Office for Budget Responsibility expected consumption growth to slow as the past depreciation of sterling put upwards pressure on inflation. The latest data on household consumption show that in Q1 2017 it was 2.6% higher than a year earlier.
The Government is taking action to support people with the cost of living. This includes increasing the National Living Wage, raising the personal allowance, and freezing fuel duty.
Answered by:
Steve Barclay (Conservative)
12 July 2017
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