British Prime Minister Rishi Sunak stated that it will not be easy to reduce inflation and it will take time, “Obviously the situation has become more difficult in the last few months, but the government is committed to its plan to achieve this goal.” said.
At the meeting, where he met with representatives of the business world, Sunak reiterated his commitment to reduce inflation to 5 percent by the end of this year, by halving it.
Stating that interest rates were increased to reduce inflation, which was very high, Sunak said, “I never said that it would be easy to reduce inflation. I always stated that it would be difficult and would take time. Obviously, this situation has become more difficult in the last few months, but the government is committed to its plan to achieve this target. ” used the phrases.
Noting that they have taken the necessary steps to reduce inflation, Sunak said, “No one wants to see a recession, and the British economy performed stronger than expected, it survived the recession. Our primary goal is to reduce inflation by half. If anyone says that there is a shortcut, it means they are not being honest with you.” he said.
Stating that the government will continue to support households in the fight against the cost of living crisis, Sunak said, “I have to repeat that we are working to reduce inflation and this is not easy.” said.
The Bank of England, within the scope of the fight against inflation, increased the interest rate for the 13th time today, increasing the policy rate from 4.50 percent to 5 percent. According to the data released yesterday, annual inflation remained unchanged at 8.7 percent in May.