Zero inflation is not a sound basis for a lasting recovery, says TUC

Tuesday 17 November 2015
embargo: For immediate release

Commenting on the latest inflation figures published today (Tuesday), which show Consumer Price Index (CPI) inflation at -0.1 %, TUC General Secretary Frances O’Grady said:

“Zero inflation is not the mark of a healthy economy. While downward pressure on prices may be providing some temporary relief for families, it is not a long-term fix.

“In order to have a lasting recovery that benefits everybody, we need urgent investment in skills, innovation and construction projects.

“Next week’s Comprehensive Spending Review is the perfect opportunity for the Chancellor to deliver a stronger recovery by launching an ambitious plan to build affordable homes and upgrade our ageing transport and energy networks.

“With interest rates at historic lows, there has never been a better time for the government to modernise the UK’s creaking infrastructure and focus on a secure and stable economy for the future.”

NOTES TO EDITORS:
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Contacts:
Media enquiries:
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Michael Pidgeon  T: 020 7467 1372  M: 07717 531150  E: mpidgeon@tuc.org.uk
Elly Gibson (Mon to Wed)  T: 020 7467 1337  M: 07900 910624  E: egibson@tuc.org.uk
Kay Atwal (Thu and Fri)  T: 020 7467 1385  M: 07941 547469  E: katwal@tuc.org.uk