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Inflation has dropped to just over 2%, the target that prime minister Rishi Sunak has been aiming for, to slow down the rate that prices are increasing.
In October 2022 when he became PM, UK inflation was at a 41-year high of 11.1%, hugely impacting the cost of food and energy.
In a statement on Wednesday morning he said “this is proof that the plan is working and that the difficult decisions we have taken are paying off”.
So, just how significant is this latest drop in inflation? And will we see prices easing any time soon?
Our political editor Nicholas Cecil tells The Standard podcast why it’s not the news the City was hoping for, and why it’ll be a while before we see the impact of this latest fall in inflation.Meanwhile, in part two of this episode, our homes and property deputy editor India Block reviews the new Netflix reality show Buying London.
India explains the premise of the new show, touted as a rival to the successful LA-based series Selling Sunset, and reveals why she thinks it’ll ruffle a few feathers among London’s traditional estate agencies.
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