Inflation dipped to 2.6% in the twelve months to June, driven largely by a fall in petrol prices. It is not expected to stay this close to target for long. Rising energy bills will feed into next month’s data.
New Chancellor John Healey is still taking a short victory lap:
“We have chosen to focus on the cost of living in our first week, signalling that concern for working people will be at the heart of everything we do.
“Both these changes are a win-win. They help keep inflation down while helping people afford the essentials.”
A victory that could be short-lived…
Lucy Powell told Sky News that the Ed Miliband-Russell Brand interview happened in part because the ‘social media age’ had not begun by 2015:
“Look, I mean, he approached the Labour Party, he approached the campaign team, and we’re in very different times now. We weren’t in the social media age at the time – where you could maybe search things up and see allegations about somebody at the time. and as I say, if there was any suggestion at all, we were dealing with someone who was a known sexual predator at the time, then, of course, you know, no one would have done that. But as I say, he was a well known public figure. Lots of people from Hollywood to the BBC to many others gave this person a very, very powerful platform. And we didn’t know at the time, unfortunately. It was a different era.”