DAILY MAIL COMMENT: The sharp fall in inflation to 3.4 per cent - its lowest level for two and a half years - is good news for everyone.
The sharp fall in inflation to 3.4 per cent – its lowest level for two and a half years – is good news for everyone.
Global factors such as easing energy prices are the main reason. But by resisting ludicrous public sector pay demands, ministers have helped. Sensibly, Chancellor Jeremy Hunt is not yet breaking out the bunting. Yet the drop in inflation opens the door for the Bank to cut interest rates.Experts now predict inflation is on track to hit the Bank of England's 2 per cent target next month
The concern is the Bank will be too timid to trim them – just as it was too slow in lifting borrowing costs when inflation soared. Boost the war effortNo one could have accused Britain of leaving Ukraine in the lurch in its hour of need after Russia's barbaric invasion. Two years on, Ukraine still fights tenaciously, but its resilience is being tested to the limit by Russia's war machine. Yet where Britain was once president Volodymyr Zelensky's chief cheerleader, our influence has waned dramatically, according to a damning report.
As a result, other nations have overtaken us, which means Ukraine apparently now regards Germany and France as closer allies. If so, this reflects badly on Mr Sunak.
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