Last year inflation reached 11.1 per cent.
New figures show that it is now down to 3.9 per cent and at its lowest point since 2021.
There is still plenty more work to do to reduce inflation further, but this news will ensure families have more money in their pockets and receive the immediate relief they need.
Whilst the Conservatives took the difficult decisions to hold inflation down, Labour’s plans would lead to higher inflation for longer, with their £28 billion spending plan risking higher taxes and higher mortgages.