Britain's finance minister Jeremy Hunt said on Thursday that high inflation continued to hamper economic growth after the latest data showed that the economy contracted in May.
“While an extra Bank Holiday had an impact on growth in May, high inflation remains a drag anchor on economic growth,” Hunt said in a statement.
“The best way to get growth going again and ease the pressure on families is to bring inflation down as quickly as possible. Our plan will work, but we must stick to it.”
Economic output fell by 0.1% in May from April, the Office for National Statistics (ONS) said.
Reuters
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