'We need to stick to the plan to halve inflation', says Chancellor
July 19, 2023
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3:05Now Playing'We need to stick to the plan to halve inflation', says Chancellor
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as posted by the channelChancellor Jeremy Hunt has hailed the latest inflation figures but warned "there's a long way to go".
It comes after the rate of inflation dropped to 7.9% in the year up to June, according to the Office for National Statistics (ONS).
"What we've seen is the Bank has taken very difficult decisions and the government has taken very difficult decisions in the Autumn statement to make sure that we really do start to bring down inflation," the Chancellor said.
"We're seeing the first fruits of that, but there's a long way to go," he said, pointing to high food prices and that fuel, although going down, is still at a significantly higher rate than before.
"We need to stick to the plan to halve inflation, to bring it back, even beyond that, to the Bank of England's target rate of 2%," he added.
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