Alison McGovern MP, Labour’s Shadow Treasury Minister, responding to today’s inflation figures, said:

“A spell of falling food and clothing prices won’t solve the deep-seated problems in our economy.

“Many households are still struggling to pay the bills and have faced stagnating living standards.

“Productivity has been revised down next year and for three years after that. Now families and businesses need a genuine plan to boost output rather than simply a patching together of existing schemes.”