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JRF responds to highest inflation rate since 1981

Rachelle Earwaker, Senior Economist for the Joseph Rowntree Foundation responds to news that CPI inflation for October was at 11.1%

“The Prime Minister claims fairness and compassion will be at the heart of his Government’s decisions tomorrow but, as these alarming figures show, struggling families will need more than well wishes this winter.

“The cost of living has millions fearing for the future, contributed to by soaring cost rises for food, transport and energy. Every day sees still more stories of people selling their possessions, or borrowing money at punishing interest rates, just to afford these essentials. 

"When the Government sets out its plans tomorrow, benefits must at least be uprated in line with inflation as usual, as was promised when Rishi Sunak was Chancellor. As well as upholding that pledge, the uprating should be brought forward rather than expecting people to struggle on until April before their income reaches anything approaching the soaring cost of food.”

Consumer price inflation, UK: October 2022

Original article link: https://www.jrf.org.uk/press/jrf-responds-highest-inflation-rate-1981

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