Complete News World

British Prime Minister Chung wants to halve inflation this year

British Prime Minister Rishi Sunak wants to rein in the massive rise in consumer prices in Great Britain and halve inflation this year. The conservative politician announced it as one of his priorities for 2023 on Wednesday.

“We will cut inflation in half, increase economic growth, reduce debt, reduce healthcare waiting lists and stop the ferries,” Sunak said. In his last point, he noted the sharp increase in the number of migrants crossing the English Channel in small boats in recent years.

Inflation in Great Britain has weakened somewhat from relatively high levels recently. In November, consumer prices rose 10.7 per cent year-on-year, the ONS statistics office said in mid-December. In October, the rate was 11.1 percent, the highest level since the series began in early 1997.

Experts expect a more severe and prolonged economic crisis in the UK than in comparable countries. Among others, The Brexit as well as greater sensitivity to fluctuating gas prices due to lower storage capacity.

Sunak has been in office since October after her predecessor Liz Truss resigned as prime minister after just weeks under pressure from her party.

More on the topic:

Brexit inflation