Chancellor Jeremy Hunt says slight dip in inflation means 'the plan is working'

Watch Chancellor Jeremy Hunt says slight dip in inflation means 'the plan is working' - inews on Dailymotion

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00:00 The path to lowering inflation is never easy because it doesn't happen in a straight line.

00:04 But if you look at the overall picture since it peaked last autumn, it is now down 40%.

00:10 And that says the plan is working.

00:13 But even at 6.7%, that is a lot of pain for ordinary families who have seen their shopping

00:19 bills go up, their fuel prices go up.

00:22 And that is why it is essential that we continue to stick to that plan, deliver the Prime Minister's

00:27 pledge and the Bank of England's target, get it right down to 2%.

00:31 Well the independent forecasters are saying that we are on track to meet the Prime Minister's

00:36 target.

00:37 So let's see what happens.

00:39 But the one thing we must not do now is to go on any kind of a borrowing binge, as advocated

00:45 by others, because that would only mean, as people like the IFS say, that interest rates

00:49 would stay higher for longer.