Inflation: working people need a credible plan to protect living standards

Commenting on today’s (Wednesday) inflation figures, which show CPI inflation unchanged at 8.7%, TUC General Secretary Paul Nowak said:

“After more than a decade of pay stagnation, working people are still getting poorer every month.

“Wage rises aren't causing inflation, real pay is still lagging far behind where it needs to be even to get living standards back to where they were over a decade ago

“Pushing interest rates so high that the economy is driven into recession will only make the current crisis worse.

 “What working people need is a credible plan for sustainable growth, to get living standards and public finances back on track.”