Rishi Sunak ‘may fall short on pledge to halve inflation in 2023’

A think tank said inflation is expected to drop from its current level to reach 5.4% by the end of the year.

(Stefan Rousseau/PA) (PA Wire)

Prime Minister Rishi Sunak is at risk of failing in his pledge to halve inflation this year, according to an economic think tank.

The National Institute of Economic and Social Research (Niesr) forecast that inflation will remain persistently higher than expected over the rest of 2023, in a worrying prediction for under-pressure households.

In its latest set of projections, the forecaster said inflation is expected to drop from its current level to 5.4% by the end of 2023.