Aylesbury parliamentary candidate celebrates inflation fall as 'proof Government is delivering'

Rob Butler, who is hoping to retain the Aylesbury seat in Parliament on 4 July, celebrated inflation falling to the Bank of England target rate of 2%.

It is the first time inflation in the UK has been as low as 2% in nearly three years.

The latest inflation figures reflect that while prices are still increasing, the rate they are rising by has significantly slowed, in comparison to when figures peaked in October 2022.

Mr Butler said: “This is excellent news for local families, and more evidence that the economy has turned the corner, thanks to the work done by the Conservative Government.

“This is why we are now able to cut taxes, with reductions in National Insurance putting £900 a year back into wage packets.

“The Conservative manifesto sets out clearly how we will continue to strengthen the economy, by cutting tax and supporting small businesses – which are so important for jobs in the Aylesbury area."

New figures were released by the Office of National Statistics based on Consumer Prices Index inflation, which dropped from 2.3% to 2% exactly between April and May.

Jake Finney, economist at PwC, warned it is “not ‘job done’ yet”. He said: “If prices continue to rise at the same month-on-month rate as they did this month (0.3%), then headline inflation will be back over the 2% target next month (at 2.1%).”

While Mr Butler sees the fall as proof the Conservatives economic plan is working, shadow chancellor Rachel Reeves said in contrast: “After 14 years of economic chaos under the Conservatives, working people are worse off. Prices have risen in the shops, mortgage bills are higher and taxes are at a 70-year high.”

Mr Butler is standing for Aylesbury’s new seat, he is competing against Laura Kyrke-Smith representing the Labour Party, Steve Lambert, who is standing for the Liberal Democrats, Julie Elizabeth Atkins the Green Party candidate, Jan Gajdos of the Workers Party of Britain, Lesley Ann Taylor of Reform UK, and Richard Lewis Wilding, who is standing as a Social Democrat Party candidate.