UK Inflation Statement

British Prime Minister Sunak said it would be difficult to bring inflation down and would take time.

At the meeting, where he met with representatives of the business world, Sunak reiterated his commitment to reduce inflation to 5 percent by the end of this year, cutting it in half.

“A FEW MORE MONTHS…”

Stating that interest rates were raised to reduce very high inflation, Sunak said: “I never said that it would be easy to reduce inflation. I always said that this would be difficult and would take time. Obviously the situation has become more difficult in recent months, but the government is committed to its plan to achieve this goal.” he used his statements.

“NECESSARY MEASURES HAVE BEEN TAKEN”

Noting that they have taken the necessary steps to reduce inflation, Sunak said: “No one wants to see a recession and the British economy performed stronger than expected and survived the recession. Our main goal is to cut inflation in half. If someone says it’s a shortcut, it means they’re not being honest with you,” he said.

Stating that the government will continue to support households in the fight against the cost of living crisis, Sunak said: “I have to repeat that we are working to reduce inflation and this is not easy.” saying.

The Bank of England, in the framework of the fight against inflation, today raised the interest rate for the thirteenth time, raising the policy rate from 4.50 percent to 5 percent. According to data released yesterday, annual inflation remained unchanged at 8.7 percent in May. (AA)