Local Member of Parliament, Robert Halfon, has welcomed the news that inflation has been halved since January, thanks to the decisive action taken by Prime Minister Rishi Sunak. Cutting inflation is the only way to drive down the cost of living for Harlow residents, cutting the cost of everyday items.
Figures released by the Office for National Statistics this morning have confirmed that inflation has fallen from 10.7% to 4.6% since January, with the cost of items on the shelves in October at the lowest for over two years. Inflation is a tax on the money in people’s pocket and, by halving inflation, hard-working Harlow people will keep more of the money they earn.
The world has been grappling with a spike in inflation due to Putin’s illegal war in Ukraine and the aftermath of the Covid-19 pandemic. This Conservative Government has delivered on their pledge to halve inflation and cut the cost of living, whilst also supporting every household as part of the Conservative Government’s record £94 billion cost of living support package. These measures include:
- £900 in cost of living payments for 12,700 families in Harlow in receipt of some means-tested benefits.
- An average of £3,300 for every household to help with the cost of energy bills.
- A thirteen year fuel duty freeze, with a five pence cut to the fuel duty rate for the last two years, saving Harlow drivers every time they go to the pumps.
- Extra £300 cost of living payments for pensioners and those in receipt of disability benefits.
- £150 rebate on winter electricity bills for an additional three million low-income households this year through the Warm Homes Discount.
- £25 per week Cold Weather Payment for eligible households throughout the winter whenever the temperature drops below zero degrees for more than seven days.
- The Pension Triple Lock to ensure those in receipt of the state pension have received an inflation-beating increase to their pension this year.
- Over £1 billion in discretionary funding for local authorities to help the most vulnerable in their communities.
Commenting on the news that inflation has been halved, Mr Halfon said, “I have always worked hard to cut the cost of living for hard working Harlow families. Since being elected in 2010, I have successfully campaigned to freeze fuel duty for thirteen years, even securing a further cut to fuel duty the year before last.
“It is good to see that the Prime Minister’s decisive action is paying off. Inflation has been halved in less than a year, which means the cost of living has also been halved. This will ease the pressures on local people, meaning they can keep more of the money they earn.
“Hard working Harlow people will be better off, thanks to this Conservative Government’s work to halve inflation and cut the cost of living.”