Treasury written question – answered on 11th January 2023.
Dan Carden
Labour, Liverpool, Walton
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of rent increases in the private rented sector on the rate of inflation.
Andrew Griffith
The Economic Secretary to the Treasury
Inflation statistics are published by the independent Office for National Statistics (ONS).
The latest ONS data shows that rents (including social landlord rent and private rent) contributed 0.31ppts to the annual Consumer Prices Index including occupiers’ housing costs (CPIH) inflation rate in November 2022 of 9.3%.
The ONS has also published experimental statistics calculating the index of private housing rental prices in the UK. The latest data shows that private rental prices paid by tenants in the UK rose by 4.0% in the 12 months to November 2022.
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