Labour’s economic doom and gloom doesn’t match reality

Inflation was 2.2 per cent in the 12 months to August, unchanged from the month before, today’s update from the Office for National Statistics reveals. This is ever so slightly above the Bank of England’s target of 2 per cent, but it’s in the ballpark of where it’s supposed to be. And while the Bank expects inflation to rise slightly by the end of the year – to just under 3 per cent – it is due to fall again in 2025 and remain around target for the years to come. These figures are good news for Labour, but they raise question marks over how long the government can continue the doom and gloom about Britain’s economy.

Long gone are the days of double-digit price hikes and a spiralling inflation crisis.