British Prime Minister Rishi Sunak said on Sunday that the government is making "good progress" on bringing down inflation as he laid out his priorities at the start of the governing Conservatives' annual conference.

Britain's inflation rate is forecast to fall to about 5% by the end of the year - half January's level - and meeting the target would mean Sunak would meet one of the five key pledges he set out at the start of the year.

"Inflation is making people feel poorer, the quicker we bring inflation down the better it is, and that is why it is the right priority, and we are making good progress," Sunak told the BBC.