Hunt comments as inflation rises to 4% in surprise increase
Chancellor of the Exchequer Jeremy Hunt says that inflation "does not fall in a straight line" after it unexpectedly rose to 4% according to the latest figures. He adds: "As we have seen in the US, France and Germany, inflation does not fall in a straight line, but our plan is working and we should stick to it." Report by Czubalam. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 Inflation never falls in a straight line. We can see from the rest of the world
00:03 it's gone up in France, the United States and the Eurozone, but here in the UK it
00:08 was 11.1% when Rishi Sunak became Prime Minister. It's more than halved.
00:14 It's still nearly a percentage point lower than where the Office for Budget
00:19 Responsibility predicted it would be only in the autumn statement in November.
00:23 So we have a plan. We've taken very difficult decisions to bring inflation
00:28 down. That plan is working and what today shows is that we need to stick to that
00:33 plan and then we will succeed. Well it's precisely because we are concerned about
00:38 what's happening in the Red Sea that the United Kingdom has taken action with the
00:42 United States and our other allies to secure freedom of navigation. We're
00:47 obviously watching the situation very carefully but when you have a very
00:52 volatile world that just shows the importance of having a plan to tackle
00:57 inflation and sticking to that plan and our plan has halved inflation, more than
01:03 halved inflation since Rishi Sunak became Prime Minister. We're going to
01:06 stick to that plan because we know that is the way we will reduce pressure on
01:11 families up and down the country.