Sunak Defends Record on Inflation as UK Prices Fall

"When I said we would halve inflation, I meant it. When I said we would stop the boats, I meant it." Rishi Sunak points to the UK's slowing inflation as proof he is "delivering on the commitments" that he made to the British people.

UK inflation tumbled to the lowest level in two years, firming up bets that the Bank of England will be able to cut rates as early as the middle of next year.

Consumer prices rose 4.6% from a year earlier in October, down sharply from 6.7% in September and the slowest pace since 2021 as energy prices fell, the Office for National Statistics said Wednesday. The figures allowed Prime Minister Rishi Sunak to declare victory in his goal of cutting inflation in half in this year, one of five priorities he hoped would improve his party’s poll number ahead of a looming general election.

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