The rate of inflation dropped by a modest amount between October and November, from 11.1% to 10.7%. Have we passed the top of the peak? 

Jeremy Hunt:

“I know it is tough for many right now, but it is vital that we take the tough decisions needed to tackle inflation – the No. 1 enemy that makes everyone poorer. If we make the wrong choices now, high prices will persist and prolong the pain for millions.”

Rachel Reeves:

“Today’s numbers show just our weak our [sic] economy continues to be, but we do not have to continue on this path of managed decline.”

Over to the Bank of England MPC…