How can Rachel Reeves reduce inflation?

Reeves has promised a range of policies in next month’s budget to ‘bear down on’ rising costs. Photograph: Hannah McKay/Reuters

After more than three years of the cost of living crisis, Rachel Reeves is well aware of the harm inflation is inflicting on UK households – and on Labour’s share of the vote.

While figures out last week suggested that the annual rate of price increases may now have peaked, the chancellor focused on its continuing human impact, saying: “For too long, our economy has felt stuck, with people feeling like they are putting in more and getting less out. That needs to change.”