Chris Loder MP has today welcomed the news that inflation has fallen to just 3.4%. It means the cost of living is rising at its slowest pace since September 2021, helping ease costs on West Dorset’s households and residents. Mr Loder said:
“In October 2022, inflation hit 11.1% - the highest level in 40 years. I’m pleased that since then it has dropped sharply and is heading in the right direction towards the Government target of 2%. Some even expect inflation to exceed this, reaching a record low of 1% by the end of 2024. I’ve been working hard to no one in West Dorset is disproportionately affected by the cost of living – whether it’s with Council Tax, rural energy, fuel or ticket prices. I’ll continue to work hard to ensure that the Government listens to the interests of us here in West Dorset.”
Prime Minister, Rishi Sunak, said: “I do believe that, at the start of this year, we have turned a corner after the shocks of the past few years, and we are in a new economic moment. And 2024 will prove to be the year that the economy bounces back. You can see that in all the data that’s coming through: how people are feeling, companies investing in the UK, inflation more than halved from 11% down to 3.4%.”
