Real living standards are STILL expected to fall by over 5% over the next two years - the largest decline since records began in the 1950s.
The grim forecast from the Office for Budget Responsibility (OBR) came as the Chancellor Jeremy Hunt unveiled his Budget for "growth".
Speaking in the Commons he said inflation is forecast to fall to 2.9% by the end 2023 while the UK economy will swerve a "technical recession" in 2023.
