Chancellor says wages are growing faster than prices but acknowledges many are still struggling with the cost of living
The Liberal Democrats have also remarked on the latest inflation figures, with Treasury spokesperson Daisy Cooper warning Rachel Reeves about complacency and calling for enhanced economic cooperation with the EU. She said:
The chancellor will be making a grave error if she lets her guard down over today’s figures. Those already struggling with the sky-high cost of living simply won’t be able to withstand another hammer blow to their pockets, such as from resident Trump’s global trade war.
Instead of looking to appease Trump and Vance in a trade deal that waters down our high British standards, the government must stand up for people and small businesses against their economic bullying, by forging new trade deals with our closest European and Commonwealth allies.