The annual rate of inflation has come in for the month of March at 2.6%.

According to the Office for National Statistics, economists said that they were expecting 2.7%.

Rachel Reeves, of course, is saying that it means that their plan for change is working.

I'm not sure that everyone would agree with that.

Let's see what Liam Halligan has to say about it, telegraph columnist and expert on, of course, the economy that we are currently in.

Liam, very good morning to you.

Good morning, Mike. Nice to be with you. Yeah, good to see you.

I'm not sure that Rachel Reeves' statement.

I know if we've had a chance to read it in full is entirely genuine.

She says, inflation falling for two months in a row, wages growing faster than prices,

and positive growth figures are encouraging signs that our plan for change is working.

But there is more to be done.

I mean, you can say that again, can you?

You can indeed.

Look, this is a temporary reprieve in inflation.

We're still well above the 2% Bank of England target.

Of course, as every talk radio listener and viewer knows, prices aren't coming coming down they're just going up less quickly

the bank of england has a two percent target we're at 2.6 the uh the bank of england itself

whatever the chancellor says acknowledges that by the end of this year inflation is going to be

3.7 percent so almost double the 2 percent target the cost of this year inflation is going to be 3.7% so almost double the 2%

target the cost of living crisis increasing and it will remain above 2% for

all of next year 2 now why is this happening Mike why is this March figure

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