Labour Party 2024 manifesto's pledge

Labour will also keep mortgage rates as low as possible, with a strong, independent Bank of England – which will continue to target stable inflation of 2 per cent.

Made in Labour's 2024 general election manifesto, before the election that formed the 2024 to 2026 Starmer Labour government.

Made 2024-06-13 · Where it was made · archived copy · Speaker's own words, quoted

What the official figures show

CPI inflation, annual rate (%)

3.5%

2026 SEP · Office for National Statistics, series D7G7 · receipt

CPI inflation, annual rate (%), 2024 JUN (baseline)

2.0%

2026-10-23 · Office for National Statistics, series D7G7 (CPI ANNUAL RATE 00: ALL ITEMS 2015=100) · receipt

Inflation target set for the Bank of England, standing target (target)

2026-10-23 · Bank of England · receipt

These figures are repeated from their sources and update automatically. We don't say whether the pledge has been kept.