inflation

UCLA’s report notes that the labor market “deteriorated notably” in June while inflation pivoted away from a path of “gradual normalization” onto a rising trajectory.

Although it was also noted there was a downward trend for the sale of these products before the legislation was introduced and high rates of inflation could also have had an impact.

John Blackwood, chief executive of the Scottish Association of Landlords, said his organisation opposed any rent controls but said the cap of inflation plus one percentage point was "proportionate".

The chancellor pledged to keep "taxes, inflation and interest rates as low as possible".

“This is a bill that keeps the government funded at the exact same levels as today, just adjusted for inflation.”