Rolling coverage of the latest economic and financial news, as UK cost of living crisis continues
Here’s chancellor Jeremy Hunt on the news that UK inflation was higher than expected last month:
“These figures reaffirm exactly why we must continue with our efforts to drive down inflation so we can ease pressure on families and businesses.
“We are on track to do this – with the OBR (Office for Budget Responsibility) forecasting we will halve inflation this year – and we’ll continue supporting people with cost-of-living support worth an average of £3,300 per household over this year and last, funded through windfall taxes on energy profits.”
