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Unite comment on latest inflation figures

Unite comment on latest inflation figures

15 August 2017

Commentating on the latest inflation figures released today, Unite general secretary Len McCluskey said: "Inflation has held this month but there is no getting away from the fact that household incomes are taking a continued pounding. Today's huge leap in rail travel costs will put tremendous strain on workers, millions of whom have suffered a year on year fall in the real value of their wages.

“Although inflation has remained stable it is still far outstripping increases in wages, meaning that workers are getting poorer. The problem is more acute than the official figures as the real cost of living is shown in the RPI figure which is significantly higher than the official CPI level, the measurement used for wages.

“The UK now has horrific levels of personal debt as people borrow to get by. This is a sure sign that all is not well in our economy.

“The ability to change this rests firmly with the government and chiefly the chancellor. He has access to the gears that can make the economy purr or park. So far he has only pulled the austerity brake. He has to do something other than cut as it is clear that this approach is making our economy unwell and our people poorer.”

ENDS

For more information please contact Unite communications officer Barckley Sumner on 020 3371 2067 or 07802 329235. Email: barckley.sumner@unitetheunion.org

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.