Static inflation reduces case for an autumn rate rise, says TUC

Commenting on today’s (Wednesday) inflation figures from the Office for National Statistics, which show CPI inflation unchanged from last month at 2.4%, TUC General Secretary Frances O’Grady said:

“The case for higher interest rates is falling further away. Instead of an autumn rate rise, we will need an autumn boost in the budget to get the economy moving and wages rising faster.

“Ministers should set up a National Investment Bank, upgrade roads and rail, and bring high-speed broadband and clean energy to every part of Britain.

“We need an end to public service cuts that have hurt schools and hospitals and held back economic growth. And it’s time to give every hard-working public servant a proper pay rise.”