The Office for Budget Responsibility (OBR) has published its latest forecasts for the UK economy, inflation, house prices, tax receipts, disposable income and unemployment. The OBR said there was 'considerable uncertainty' around the inflation forecasts, particularly when it comes to energy prices. A sharp rise in energy prices could cause UK inflation to spike back up to an annual peak of nearly 6 per cent, it added. This is 0.2 percentage points lower then the OBR forecast in November. Its predictions are important as they cover issues affecting people's lives on a daily basis, including house prices, inflation, tax burdens and interest rates.

Source: Daily Mail March 07, 2024 05:08 UTC