Minister admits ‘there is more to do’ on inflation

ODN

Exchequer Secretary to the Treasury James Murray admits “there is more to do” in order reduce inflation further following a small fall in the Consumer Prices Index to 3.4% in May. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00Inflation is broadly stable, and this underlines the importance of the decisions the government has taken to stabilise the public finances,

00:06to get inflation under control after the double-digit inflation we saw under the previous government.

00:11But we know there's more to do, and our number one mission is to put more money in the pockets of working people.

00:17And that's why, at the spending review last week, we extended the £3 cap on bus fares,

00:21we've extended free school meals to a further 500,000 children,

00:24we're continuing to introduce free breakfast clubs at schools across the country,

00:28and we're investing in every part of the country to make working people better off.

00:32We know that global energy prices were higher at the start of the year, and that's fed through into higher prices,

00:37but we also know that the OBR has said that from the middle of next year, inflation is likely to come back down to a round target,

00:44and we're doing everything we can to make sure we put more money in the pockets of working people.

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