“Our economy has truly turned a corner,” Rishi Sunak, Britain’s prime minister, said last week as he introduced his party’s election manifesto, buoyed by recent data showing that Britain’s economy had exited from a recession more strongly than expected in the beginning of the year and that inflation had slowed substantially. Justifying the optimism, data released on Wednesday showed that consumer prices rose 2 percent in May from a year earlier, touching the Bank of England’s target for the first time since 2021. That was also way down from 11.1 percent in October 2022, when Mr. Sunak started his premiership. Polls suggest there is a desire to eject the governing Conservative Party from Downing Street, after 14 years, in next month’s general election. But lawmakers in the opposition Labour Party have already warned that — should they win — they will inherit a hobbled economy with little room for bold changes.


Source:   The Times
June 19, 2024 09:41 UTC