THE cost-of-living crisis is far from over, unions warned today after inflation dropped to 4.6 per cent while food prices continued to surge.

Consumer prices index (CPI) inflation was down in October from 6.7 per cent in September, according to data from the Office for National Statistics (ONS).

Prime Minister Rishi Sunak boasted that he had met his target of halving inflation by the end of the year, however inflation remains above the Bank of England’s 2 per cent target, and economists have argued that the lower energy price cap helped drive the sharp drop last month.

Food and non-alcoholic drink inflation remained just above double digits at 10.1 per cent last month, the ONS said, as prices remain substantially higher than a year ago.

TUC general secretary Paul Nowak highlighted that Britain has the highest inflation out of the G7 countries, saying: “Bills and prices are sky high and still going up.

“While other countries have done more to reduce cost-of-living pressures, working families and businesses here remain seriously under the cosh.

“The Conservatives’ lack of a credible economic plan is costing us dear.

“An arbitrary inflation target is no cause for self-congratulation. Britain cannot afford the Tories.”

GMB general secretary Gary Smith said that the figures will be “cold comfort” to those struggling to make ends meet.

He said: “Prices are still surging and the cost of food is a third higher than it was two years ago.

“Celebrations this morning over an artificial target look out of touch from a government that wrecked the economy and left millions of people with unaffordable bills.”

Which? director of policy and advocacy Rocio Concha said that the cost of living was still increasing, and households were paying “significantly more” for essentials.

The latest data from the consumer website shows that 2.1 million households missed essential bill payments in the month to October 9 due to financial pressures.

“With Christmas fast approaching, this reality will only become increasingly bleak for those already struggling to make ends meet,” Mr Concha said.

Shadow chancellor Rachel Reeves said the government should not be “popping champagne corks” about the drop.

“After 13 years of economic failure under the Conservatives, working people are worse off with higher mortgage bills, prices still rising in the shops and inflation twice as high as the Bank of England’s target,” she said.