FALLING inflation does not mean the end of the cost-of-living crisis, unions warned today.

Ministers were celebrating a drop in the inflation rate to 2.3 per cent, which was almost in line with official targets.

But TUC general secretary Paul Nowak said: “The cost-of-living crisis is not over — no matter how much ministers pretend it is. 

“Food and energy bills are much higher than a couple of years ago. And many are being hit by soaring mortgage repayments.”

TUC polling has revealed that 58 per cent of the public say living standards have not got better this year while only 14 per cent believe they have improved, with many sinking deeper into debt.

Unite general secretary Sharon Graham said: “We are not out of the woods.

“Over the past three years prices have risen by 29 per cent, while wages have lagged far behind.

“The inflation crisis has meant a generational drop in living standards, and we’re a long way from catching up.”

None of this stopped premier Rishi Sunak crowing about his inflation-cutting achievement in the Commons amid speculation that he may be on the verge of calling an election to celebrate.