Commuters suffering from high inflation and poor growth, says TUC

Commuters in Birmingham

Commenting on the latest inflation figures published today (Tuesday) by the Office for National Statistics (ONS), which show that RPI inflation fell to 5.2 per cent and CPI rose to 4.5 per cent in April, Midlands TUC Regional Secretary Cheryl Pidgeon said: “Prices are rising at twice the rate of wage increases, putting real pressure on people’s take home pay.
“Commuters are feeling the pinch particularly hard, with transport costs up 10 per cent on last year.
“These figures are made worse by poor profitability and business confidence, which creates a tough climate for pay bargainers.
“But global inflationary pressures and the weak state of our economy mean an interest rate rise is the wrong answer to this problem, and would only make matters worse.
“The Chancellor must do more to encourage growth, otherwise the squeeze on living standards will get even tighter and further jeopardise our recovery.”