UK's Chancellor of the Exchequer Jeremy Hunt said on Wednesday that today's inflation report showed there is no room for complacency. He noted that the fact that inflation fell back into single digits is welcome, but food prices remain a concern as they continue rising too fast. "We've got a long way to go," Hunt added.
The British finance minister also repeated the necessity to stick resolutely to the government's plan to get inflation down. In his opinion, the target of halving inflation - the biggest way to put money in people's pockets - this year is absolutely deliverable.
In addition, Hunt ruled out the possibility of tax cuts in a high-inflation environment, as that, in his view, would be the wrong thing to do. “If we want to cut taxes in the long run... number one task is to get inflation down,” he said.