Latest inflation and borrowing numbers show the chancellor's room for manoeuvre is tight, with national debt topping £3 trillion and the headline rate heading towards 4%.
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01Summary
- 01National debt has exceeded £3 trillion for the first time in official figures.
- 02Headline inflation rose to 3.5% and is expected to reach 4% in coming months.
- 03Borrowing is running ahead of forecasts as spending and interest costs increase.
- 04The state pension will rise by 3.9% next April under the triple lock.
- 05Rising services and core inflation increase the likelihood of an interest rate rise next month.
02Why it matters
These figures directly affect household bills, pension increases, and the chancellor's ability to ease cost-of-living pressures without unsettling financial markets.
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