UK's Hunt says he is focused on bringing down inflation

British finance minister Jeremy Hunt said on Friday the best way to help cash-strapped households hit by a cost of living squeeze was to produce a fiscal plan that would bring down inflation.

"The best thing that I can do as chancellor is produce a plan that brings down inflation, brings down the upward pressure on interest rates," Hunt said on Sky News after data earlier in the day showed a shrinking of the economy in the third quarter.