Despite triumphant claims in some quarters that the cost-of-living crisis is coming to an end, the truth is that inflation (RPI) is still outstripping wage growth.

As people continue to be hammered by food and energy greedflation, they now face huge rises in rent and mortgage costs thanks to Bank of England interest rate rises.

Meanwhile, corporations continue to profit. The big four banks have published combined profits of over £29 billion for the first six months of 2023, up 77% on last year.

Unite General Secretary Sharon Graham said: “The government, the Bank of England, and profiteering corporations will try to use today’s inflation figures to tell people the crisis is over, but workers won’t be fooled while they see prices and profits continue to rise faster than wages.”

“Until policy-makers stop attacking wages and take on the corporate profiteers there will be no end to this cost-of-living crisis.”


For more information please contact: Ciaran Naidoo on 07768 931 315 

Email: Ci[email protected]

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Unite is the leading union in the UK and Ireland, dedicated to defending and improving members' jobs, pay and conditions. The general secretary is Sharon Graham

Notes to editors:

Profit figures taken from:, p. 4, p. 12, p. 3, p. 5.