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QUOTE From: Budget 2026 live: Latest updates, analysis and fact checks

OBR's David Miles calls the living standards outlook a 'pretty grim picture'

Professor David Miles, an OBR economist, has described the forecast for household incomes as a "pretty grim picture", City AM reports.

According to City AM, he said the minimal change in living standards over the decade was "unusual" by historical standards.

His comments follow the OBR's forecast that real household disposable income per person will be just 1% above its pre-pandemic level by 2029-30.

City AM also reports that the OBR has raised its average inflation projections to 3.4%. The report does not say which period that average covers, and the figure has not been independently checked against the OBR's Economic and Fiscal Outlook.

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