Shadow Chancellor Rachel Reeves says people are still worse off despite the fall in inflation.
Jeremy Hunt hailed brighter signs on the economy today as inflation dropped to the lowest level in two and a half years.
The numbers were revealed after Andrew Bailey hinted that the Bank of England could start cutting interest rates before the US Federal Reserve. The comments came as the governor's Fed counterpart Jerome Powell warned that the US's battle to tame price rises was 'likely to take longer than expected'. 'We have also seen energy bills falling, mortgage rates falling and, just this week, data showed people's wages have been rising faster than inflation for nine months in a row.
Chancellor Jeremy Hunt insisted the official figures showed the 'plan is working' and people will 'start to feel the difference'
News ONS Andrew Bailey Federal Reserve Jeremy Hunt Consumer Price Index Rishi Sunak Bank Of England IMF Inflation
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