LONDON (Reuters) – British inflation is set to average 2.6% in 2025, finance minister Rachel Reeves said in her first budget speech on Wednesday, citing forecasts from the Office for Budget Responsibility.
In March, at the time of the previous Conservative government’s final budget, the OBR said it expected inflation of 1.5% next year.
Official data published earlier this month showed consumer price inflation eased to an annual 1.7% in September, bolstering market expectations that the Bank of England would cut interest rates in November.
(Reporting by David Milliken and Sachin Ravikumar; Writing by William James; Editing by Hugh Lawson)
