INFLATION: Decent pay rises needed to protect spending and avoid recession, says TUC

Commenting on today’s (Wednesday) inflation figures, which show CPI inflation rising to a 40-year high of 9.4% in June, TUC General Secretary Frances O’Grady said:

“Families are under immense pressure as food and energy costs soar, and companies raise prices much faster than wages.

“We need profit restraint and pay rises that keep up with prices. And the government must play its part with decent pay rises for public servants.

“If we do not do more to get pay rising, struggling workers will cut back their spending. Businesses will suffer, and we risk entering a recession.”