New Inflation FIgures

Today the latest figures confirm that the rate of inflation is 6.7 per cent, easing from last month, as Conservatives continue to take action and deliver on our priority to halve inflation.

• Putin’s illegal war in Ukraine and the lasting effects from the pandemic continue to have an impact across the world, but today’s figures show that our plan is working as inflation stands at 6.7 per cent, down from over 10 per cent at the beginning of the year. 
• We are taking action to drive down inflation – getting more people into work, halving energy bills, and taking a responsible approach to the public finances, while helping households with the cost of living. But while price rises are slowing, we are not at the finish line. We must stick to our plan to halve inflation this year and get it back to the two per cent target as soon as possible
• The decisive action we have taken to tackle inflation is working, with inflation now standing at its lowest level since February last year. Cutting inflation is critical to protecting the living standards of of working families, pensioners, and indeed all of us.