Inflation falls to 2.3% in boost for Rishi Sunak

In a boost for Rishi Sunak, the rate of inflation is now just 0.3 per cent away from the Bank of England’s 2 per cent target, having skyrocketed in the wake of Russia’s full-scale invasion of Ukraine

(The Independent)

The rate of inflation fell to 2.3 per cent in April from 3.2 per cent in March, the Office for National Statistics said, its lowet level since 2021.

In a boost for Rishi Sunak, the rate of inflation is now just 0.3 per cent away from the Bank of England’s 2 per cent target, having skyrocketed in the wake of Russia’s full-scale invasion of Ukraine.

A Treasury spokesman said: “We rightly protected millions of jobs during Covid and paid half of people’s energy bills after Putin’s invasion of Ukraine sent bills skyrocketing – but it wouldn’t be fair to leave future generations to pick up the tab.

“That’s why we must stick to the plan to get debt falling. The economy is turning a corner, with strong growth this quarter and inflation close to target, allowing us to cut taxes for the average worker by £900 a year.”

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