The Office for National Statistics said inflation, as measured by the consumer prices index, fell to 2.3% in the year through April, down from 3.2% in March. That is the lowest level since July 2021 when the global economy was still being held back by the coronavirus pandemic. The fall also takes inflation nearer to the Bank of England’s target rate of 2% and is likely to pile pressure on its nine-member rate-setting panel to cut interest rates from the current 16-year high of 5.25%. Since 2020 goods and services have risen by 15%, with food prices up even more at around 25%.
Narrow down the conversation to these participants:
@9N3WT5RLibertarian6mos6MO
The government doesn't have a direct hand in raising or lowering inflation, so anything the government "does" is irrelevant.
@9QQKKGQ5mos5MO
The Rishi Sunak Conservative party's plan to lower inflation i think would of worked but it wasn't given enough time.
@9Q7Z36G5mos5MO
I beleive they have done the best that they can in a short time notwithstanding that the event was initially a Tory led initiative
The current government has done nothing to lower inflation.
The lower inflation has mostly come from the reduction in gas and electric costs for consumers, and anything the government has done to lower inflation is temporary, hence why they called for a general election... To blame the next leader for the coming inflation boom that has been caused by the current leader and his cronies.
@9Q72V5Y5mos5MO
Liz truss did the main damage but it's thr bank of England who mechanisms help to control inflation not the government.
@9Q6R8ZZ5mos5MO
The government itself has not done much to lower inflation, it was the bank of England monetary policy commitee that raised intrest rates which lowered inflation.
@9ZCBQKS2wks2W
Rishi Sunak's Conservative Government's plan was starting to work to lower inflation but then labour messed it up so the current government labour led by kier starmer has set back al of the progress that has made so therefore hasn't done enough
The Conservative Government's plan to lower inflation was working ,Slowly, but working but Labour has massed it up again.
@9R2PF544mos4MO
inflation is controlled and moderated by the bank of england which is an independent institution, not the government
The government has taken steps to address inflation, but more targeted and effective measures are needed.
@9Q4JKMX5mos5MO
No, and I’m not convinced that the return of inflation to 2% can be attributed to anything the Government did.
@9Q3MMBDPlaid Cymru5mos5MO
It is the Bank of England that sets monetary policies and as such Government has no authority on Inflation figures.
@9MX8ZJ96mos6MO
Certaintly haven't been any extreme measures such as 20% interest rates however it has come down to 2.5%. From my point of view, it's been incredibly difficult to control over the past 2 years with lockdowns, ukraine war impacting food and gas prices as well as the instability over trade routes in the middle east.
They should stop helping their friends when they are trying to solve any problem. Taxing extra profits could have worked better than helping people with their energy bills could have led to lower energy prices and lower inflation
@9MV5HWB6mos6MO
The government did nothing to lower inflation it naturally fell due to market shifts
@9MV4FB56mos6MO
They can't and they won't, it is controlled by bankers.
The government has had little impact on lowering inflation
@9MTXTQQ6mos6MO
The government can't control inflation though it should beef up and remind utility regulatory bodies of their reason for existing.
@9MTS2FP6mos6MO
The government has very little control over inflation. BoE and world events drive it.
@9MTQ39P6mos6MO
The UK government has little influence on global inflation at a large scale. Decisions made by the Truss/Kwarteng government worsened an already poor situation, but the more recent reduction in inflation is not due to government policy
@9MTL6X56mos6MO
Government has very little control over inflation unless they introduce price caps, which doesn't actually lower inflation.
@9MTJ8QH6mos6MO
The Bank of England has a bigger say over the lowering of inflation, government should not try to claim great credit
@9MTBK3K6mos6MO
It takes a long time to bring down. Other countries are interfering in inflation. They have been higher in the past.
Government should use a sliding income tax (fiscal policy) rather than using the interest rate (monetary policy)
@9MSZN8H6mos6MO
They have little or no control, but claim lowering is due to them but raising is down to global factors
@9MSXGX46mos6MO
The government didn't reduce inflation. People are broke. The government caused 11% inflation in 2022 by way of printing 500 billion pounds during the Covid years.
@9PXHFMX5mos5MO
Done too much, benefitting the rich at the expense of the poor (e.g. urging wage restraint when corporate profits are driving inflation)
@9PRGGCL5mos5MO
Its complicated and improving. I blame Putin invading Ukraine for upsetting the international status quo that was recovering from financial effects of Covid pandemic.
@9PMSJMDLiberal Democrat5mos5MO
Inflation has decreased in recent months, however, is still nowhere near as low as it was when they came into power. While the current rate change looks promising, considering their track record, I cannot trust this government to maintain this rate of change
@9PLJ32K5mos5MO
While the current government have lowered inflation significantly, more needs to be done to keep prices stable.
@AndrewS-Bucks 5mos5MO
No, apparently it wasn't their fault it went up in the first place, so how can we credit them with lowering it back down?
@9PH9PV95mos5MO
The Government took no responsibility for the inflation rises so cannot take any credit for there decrease
@9PH4QNS5mos5MO
Reduce payments overseas including excessive aid and military support to other countries. Reduce illegal immigration and force non-UK national to pay for health care. Impose greater taxes for non-UK nationals to invest in the UK.
@9PFXXQ25mos5MO
Yes, but it is the government's fault inflation increased so highly in the first place after Liz Truss's "mini-budget".
@9PCVHJZ5mos5MO
The recent inflation was caused by external events and mathematically would have come down of its own accord. It has been made worse for people by the BoE interest rate policy and price gouging by large companies. The government have had no effect on it coming down.
@AndrewS-Bucks 5mos5MO
No, apparently they didn't raise it in the first place, so how can we credit them with lowering it back down?
No, govt appear to have little control over inflation, however, they could put in place measures to compensate the population, and don’t.
@9NM8KB46mos6MO
Yes, but windfall taxes should be applied to conglomerates who have profited by raising prices significantly above inflation.
@9NLKDDN6mos6MO
No they dont control it. Inflation or CPI is pretty much a useless measure for showing the financial load on households. RPI is a closer measure as it includes mortgages. People think inflation should be reflective of how financially impacted households are and its nowhere near. This should be a new tracking measure thats reported
They cannot take credit for lowering it, its down to world economics and the boe. If they take credit for lowering it, then they must take credit for it being at 11.1% 16 months ago.
@9NJLBJBIndependent6mos6MO
The current Conservative government have done nothing to lower or even consider the lowering of inflation
@9MYQ9JS6mos6MO
No, but the government is doing a decent economic job considering the circumstances and the economy is heading in the right direction, albeit slowly.
@9MY3G7X 6mos6MO
The inflation political football is not understood by most people and is barely understood by politicians. It is a lazy toy of the media to create simplistic political points. Since global issues affect it all that can be done is to mitigate its effects and act in compensatory ways to ensure citizen security.
@9MXXVLB6mos6MO
Yes and no. Actual cost of living inflation has not fallen. More accurate measures of inflation should be developed.
@9MXCM826mos6MO
Mainly dependent on the external factors plus the Bank of England, which is supposed to be apolitical
@9MWF22Z6mos6MO
Westminster should do nothing. The Bank of England has done enough. Private individuals are primarily responsible.
@9MW2YD66mos6MO
The government has little control over inflation that we’ve currently experienced. It’s market inflation based on global events. Irrelevant question.
@9MVWVHZ6mos6MO
The government do not cause inflation to lower, that’s the Bank of England's role
@9MVNH76Conservative6mos6MO
It has nothing to do with the government as the Bank Of England is independent
@9MVJLQK6mos6MO
The bank of England's remit is inflation not the governments
@9MT8NL96mos6MO
It’s the role of the Bank of England, not the government to control inflation. It has a mandate to do so and is independent
@9PNBZGV5mos5MO
The current plan on under Rishi Sunak is working but it will take time so I think they have done the best they can but it will take more time
Not really under the control of the government as the Bank of England is independent and the largest contributor to inflation was the price af oil and gas which again the Government had little vintrol over
@9NW769X6mos6MO
No. The country needs a period of deflation to bring prices back in line with expected levels for the last two years.
@9N8P6NK6mos6MO
I don't believe the government has the ability to do anything about inflation as it is a global issue. Any leavers pulled by the government to influence inflation are just for show, any change is most likely unrelated to the action taken.
@9N83CTC6mos6MO
Yes but it still needs to go down. People are forgetting we had a pandemic and it cost a lot to give all workers benefits throughout that period!
@9N7SQSR6mos6MO
I don't believe that government policy is an effective tool to combat worldwide inflationary pressure
@9MYTVMB6mos6MO
Doesn't make sense. How can inflation be low when cost of living so high? Surely should be the focus, how well or not people are coping?
@9NMCXW46mos6MO
They say they were not responsible for the rise, so therefore they cannot bring it down. it's down to external circumstances
Deleted6mos6MO
The Government should be properly represented on the Bank of England's interest rates committee before I can answer this question
@9N8V9G26mos6MO
So many avoidable factors, especially re Brexit and bad decisions in managing the SARS-CoV-2 pandemic, so no
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