UK inflation has fallen below 5% for the first time in two years when figures for October were published today. Prime Minister Rishi Sunak promised in 2022 to halve inflation from 10.7% and this has been achieved.
Beating back inflation has been this Government’s number one priority. It’s now half what it was - down from 10.7% to 4.6%. That’s thanks to deliberate action taken - being disciplined on spending, helping people into work, and resisting calls for further borrowing.