The Prime Minister has promised to meet his target by halving inflation even though the Consumer Prices Index (CPI) has stalled at 6.7%.
Rishi Sunak made inflation come down by 5.3% by the end of the year as his “number one priority,” he said, “We’ve made great progress but I know there is still a way to go.”
Sunak said, “Tackling inflation remains my number one priority as Prime Minister.
“We will stick to our plan and get it done.”
The Chancellor Jeremy Hunt said that inflation “rarely falls in a straight line,” adding, “if we stick to our plan then we expect it to keep falling this year.”
The shadow chancellor Rachel Reeves warned, “Britain is forecast to have the highest rate of inflation of any other major economy next year, meaning higher energy bills and prices in the shop.”
Liberal Democrat Treasury spokeswoman Sarah Olney said, “The Government’s promise to halve inflation seems to not be worth the paper it’s written on.”
The Office for National Statistics has said that CPI inflation in September stayed the same rate as August which has resulted in higher fuel costs.