Rate of inflation falls in pre-Budget boost for Reeves

Evening Standard

Inflation fell to 3.6% for the first time in four months in October latest official figures reveal today in a pre-Budget boost for Rachel Reeves.The headline measure of the rising cost of living -the Consumer Prices Index (CPI) - dipped after three consecutive months stuck at 3.8%. It is now at the lowest level since June.

Transcript

00:00It's welcome that inflation has fallen from 3.8% to 3.6% in this month's data, but I recognise

00:09that inflation, the cost of living, is still a big burden on families right across the

00:14country and that's why in the budget next week I'll be taking targeted action to bring

00:19down inflation to address the cost of living.

00:22Food prices fell last month and they have risen this month, but I do recognise that

00:29there's more that we need to do to tackle the cost of living challenges and that's

00:33why one of the three priorities in my budget next week is to tackle the cost of living

00:40as well as to cut NHS waiting lists and cut government debt.

00:44There are 300,000 more jobs in the economy than there were at the beginning of this year,

00:51but of course I want also to do more to help people back into work, which is why at the

00:56budget we'll be setting out more details of our youth guarantee to ensure that young

01:00people are in education, employment or training.

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