Both Labor and the Lib Dems criticized his video.
With the familiar British character “Mr. Bean” (played by Rowan Atkinson) compared Britain’s Chancellor of the Exchequer Jeremy Hunt as through a video he tried to explain inflation using paper coffee cups.
In the video, Mr Hunt orders coffee before explaining what he is doing to tackle rising prices.
Why is inflation high and how are we going to halve it?
Grab a coffee and let Chancellor @Jeremy_Hunt explain. pic.twitter.com/8mpf4xfxCO
— HM Treasury (@hmtreasury) January 18, 2023
He says a cup of coffee a year ago was around £2.50 but now it’s £3. He then lays out the reasons for high inflation, such as the war in Ukraine.
Both Labor and the Lib Dems criticized his video.
Sarah Olney, said the “last thing” families needed was a “Mr Bean-like video” from the Conservative party.
Prime Minister Rishi Sunak has pledged to halve inflation this year, but many expect that to happen anyway, largely as energy price rises slow and as post-pandemic supply problems ease.
The Office for Budget Responsibility (OBR) expects inflation, which measures the rate of rise in prices, to fall to 3.75% by the end of this year – well below half the current level.
And the Bank of England expects it to fall to around 5%. The Bank’s target interest rate is 2%.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the expected fall in inflation “doesn’t have much to do with government policies”.
Instead, he said it would be driven largely by falling commodity prices and shipping costs over the past six months, as well as food and other goods prices and energy bills starting to fall in the second half of this year. year. .
Food prices are skyrocketing
The video was released after the latest inflation data was released early Wednesday.
Although price rises slowed for a second straight month, the cost of food, including milk, cheese and eggs, kept inflation close to a 40-year high of 10.5% in the year to December.
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With a wealth of experience honed over 4+ years in journalism, I bring a seasoned voice to the world of news. Currently, I work as a freelance writer and editor, always seeking new opportunities to tell compelling stories in the field of world news.
