Low inflation is no surprise with job fears reducing spending, says TUC

Thursday 16 Jul 2020 @ 12:15
WiredGov Newswire (news from other organisations)

Commenting on the inflation figures, which show CPI inflation at just 0.6%, TUC General Secretary Frances O’Grady yesterday said:

"It's no surprise that inflation is low when people are afraid to spend because their job doesn't feel safe.

"The chancellor must go all out to push back the rising tide of job losses. Businesses in the hardest-hit sectors need greater government support to stop them going under.

“And by fast-tracking infrastructure projects, the chancellor could inject £85 billion of investment into local economies across the UK. This would create 1.24 million jobs delivering faster broadband, green technology, modern transport and housing.”

Original article link: https://www.tuc.org.uk/news/low-inflation-no-surprise-job-fears-reducing-spending-says-tuc

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