Former chancellor of the exchequer, Lord Lamont, has praised his successor, Jeremy Hunt, for his efforts to reduce inflation - which has remained stubbornly high.
The rate is now back in single digits for the first time since the summer of 2022, but food inflation is still near 20% and core price inflation sits at a 30-year high.
The Bank of England "overreacted" to COVID and brought interest rates down too low for too long, says Lord Lamont.
#inflation #economy #interestrates #government
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