Fall in inflation is a positive sign but the real test for the Government is living standards

The measure that he and his Ministers need to be most concerned with is living standards, which have still not recovered and for many are still worsening.

Jubilance over fall in inflation, the lowest level in nearly three years in April, would be tone-deaf while families still facing rising bills and they aren’t seeing little improvement at the supermarket till while doing their weekly shop.

The Chancellor Jeremy Hunt at least acknowledged this fact when he conceded that the majority of the public had not seen a recovery in living standards.

Unprecedented events such as the pandemic and war in Ukraine saw inflation rocket. But it was not helped by the disastrous tenure of Liz Truss as Prime Minister.

Consumer Prices Index (CPI) inflation fell to 2.3 per cent, the lowest level since July 2021 when inflation was recorded at 2 per cent, which is the Bank of England’s target level. However, the decline was smaller than expected as economists had predicted CPI would fall to 2.1 per cent in April. This raises doubts as to whether the Bank of England will cut interest rates.

The Government can’t really take credit for inflation falling as these figures aren’t the result of any direct policies.

Having said that, the fall in inflation is a positive sign. But it is a long road ahead for Britain’s economy.