June Inflation statistics + responses

The Chancellor has responded to the June Inflation Statistics published this morning

Chancellor of the Exchequer Jeremy Hunt said:

“Inflation is falling and stands at its lowest level since last March; but we aren't complacent and know that high prices are still a huge worry for families and businesses. The best and only way we can ease this pressure and get our economy growing again is by sticking to the plan to halve inflation this year."

Rachel Reeves MP, Labour's Shadow Chancellor of the Exchequer, responding to new inflation figures this morning, said:

“Inflation has been persistently high and remains higher than our international peers. This is becoming a hallmark of Tory economic failure.

“Today’s numbers confirm what families across the country already know – that prices are still going up at staggering rates and that they’re bearing the brunt of those costs.

“There may be global shocks – but Britain is so exposed to those because of Tory economic failure that has led to a severe lack of security in our economy.

“Only Labour has the plans Britain needs to our economy on a more secure path – so that families are better off and so we can grab hold of the opportunities of the future.”