Inflation is at 2.9 per cent and has increased by 0.2 per cent since May, indicating that prices are going up much faster than wages.
The latest inflation figure represents a 14-month high in the UK but was lower than the 3 per cent forecast by markets.
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His comments at the Defence and Security Forum on Monday came after a £20 billion black hole in the budget for the next decade emerged.
The Foreign Secretary said he thinks the health service should be "at the very top of the list" for a windfall after the UK leaves the EU.
Turning wet and breezy from the west overnight.