Reacting to the fall in inflation to 2.3%, Labour’s Rachel Reeves says it “not the time for a victory lap and popping champagne corks” as “working families and pensioners are still worse off”. The shadow chancellor insists her party is "much more ambitious for the country than Rishi Sunak and Jeremy Hunt seem to be". 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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00:00 Well, inflation has fallen, but of course it remains above the Bank of England's target.
00:05 And this is just not the time for a victory lap and popping champagne corks, because this
00:11 is about more than lines on a graph, it's about family finances.
00:15 And the truth is, after 14 years of Conservative government, working families and pensioners
00:21 are still worse off.
00:23 And the truth is, I'm much more ambitious for the country than Rishi Sunak and Jeremy
00:27 Hunt seem to be.
00:28 I want the economy to be growing sustainably, with good jobs in all parts of the country,
00:34 which is why we set out the first steps on the economy last week, bringing back stability
00:39 so we can grow our economy, reduce the cost of living and keep mortgages, inflation and
00:44 taxes as low as possible.
00:46 Despite the numbers coming down today, the truth is, compared to three years ago, food
00:53 prices are 30% higher, energy bills are higher, and that's had a real toll on family finances,
01:00 who are still struggling after 14 years of Conservative chaos.
01:04 And added to that, the mini-budget of just a year and a half ago that sent mortgage rates
01:10 spiralling, which is having a very material impact on so many families up and down the