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In its October Economic and Fiscal Outlook (EFO), the independent Office for Budget
Responsibility (OBR) set out its assessment of the economic impact of government policies
announced at the Budget and Spending Review. The OBR noted that government policies
overall had a small effect on inflation, with the price level 0.3% higher at the end
of the forecast horizon as a result of Budget and Spending Review measures. The EFO
captures the impact of policy measures, specifically referred to in box 2.1 in the
October publication.
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