There’s ‘light at the end of the tunnel’ for the economy & Brits will see their bank accounts grow, Rishi Sunak insists

Brits will see their bank accounts grow as inflation continues to fall, Rishi Sunak insisted today.

Fresh from a sun-soaked holiday to California, the PM said there’s “light at the end of the tunnel” for the economy.

It comes as the Office for National Statistics is set to announce the latest UK inflation stats tomorrow.

In June the figure decreased from 8.7% in May to 7.9%.

Meanwhile, the Bank of England hiked interest rates to an eye-watering 5.25%.

Visiting a hospital in Buckinghamshire, Mr Sunak said: “The best way to be able to bring interest rates down and stop them going up is to bring inflation down.

“We are making progress, the last set of numbers we had showed that inflation was falling faster than people expected.

“We’ve got work to do, we’ll get more numbers tomorrow, but it’s important that we stick to the plan.”

The PM added: “The plan is working. I think there is light at the end of the tunnel.

“If we get through this, people will really start to see the benefit in their bank accounts, in their pockets, as inflation starts to fall.”

This morning the ONS revealed wages have risen at their fastest rate on record.

Regular pay excluding bonuses stood at 7.8% in April to June this year.

However, taking into account inflation, real wages only rose by 0.5% for total pay and 0.1% for regular pay in real terms.

Mr Sunak has staked his premiership on halving inflation before the next general election.

He said: “It’s inflation that’s making people feel poorer, it’s eating into the savings in their bank account, making sure there’s less money that they have at the end of the month.

“That’s why we need to bring it down and that’s how we’ll also bring down interest rates and ease the pressure on people’s mortgages.

“I think people can trust me, they know that I know how to manage the economy.”