New figures from the Office for National Statistics show that inflation fell from 3.4% in December to 3% in January. Something for the Bank of England’s Monetary Policy Committee to look at when deciding on the next interest rate…
A dip in food costs and transport costs contributed most to the fall. Core inflation fell by 0.1% to 3.1%, slightly above expectations for this month. CPI is still above the Bank of England’s 2% target….
This comes as the economy becomes weaker with low-to-no growth and spiralling unemployment. Reeves has chalked the figures up as a win, saying: “Our economic plan is the right one, to cut the cost of living, cut the national debt, and create the conditions for growth and investment in every part of the country.” Are these conditions for growth in the room with us right now?
Starmer was read out a list of his 13 U-turns on BBC Radio 2, to which he responded:
“Well, I am a common sense merchant.”