Inflation has dropped to 4.6% which means the chancellor and prime minister can claim victory in one of their five pledges – the one to halve inflation by the end of the year.
True, there’s still a few months of data left to run (today’s consumer price index figures are for October) but nearly every economist expects inflation to carry on falling in the coming months.
And given it was well over 10% a year ago, this pledge looks to have been ticked off.
