Inflation

INFLATION

CURRENT & FORECAST

All UBR and transitional arrangements are subject to adjustment by the rate of inflation. This is based on the Sept/Sept actual CPI. We have adopted the Government’s Office of Budget Responsibility CPI Forecast. Please see table below

0%

2%

Actual CPI

2017-18 Rate Year

0%

3%

Actual CPI

2018-19 Rate Year

0%

2.4%

Actual CPI

2019-20 Rate Year

0%

1.7%

Actual CPI*

2020-21 Rate Year

0%

0.5%

Actual CPI*

2021-22 Rate Year

0%

0.6%

Estimated CPI*

2022-23 Rate Year

*The Secretary of state can issue special guidance, that overrides the CPI levels to be used when setting the multiplier, this is completed by passing an SI through parliament, so far this has occurred for both the 2020-21 & 2021-22 Rate Years.

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