In an exclusive interview with Sky News, Chancellor Jeremy Hunt has said the Government is determined to do what it takes to bring down inflation, even if that means interest rates hiking as high as 5.5%, as the market now expects, bringing more pain for households, or even sparking a recession.

Our economics editor Ed Conway started by asking about the latest inflation figures, which showed inflation fell to 8.7% - still higher than economists, and the Bank of England, expected.

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