TUC General Secretary Paul Nowak comments on the latest inflation figures showing a larger than expected fall of 0.4 points in CPI from 3.6 in October to 3.2 per cent in November
"Inflation may be falling, but many working people are still struggling to afford the basics.
“The government acted to protect living standards and push back against inflation in last month’s Budget, but more must be done.
“The economy is fragile and high interest rates are draining confidence from households and firms. It’s vital that we now boost demand.
“The Bank of England has been too cautious this year, and inflation is already lower than they expected only last month. So an interest rate cut this week must be the start of a sequence of reductions over the months ahead. It’s long overdue and it’s the shot in the arm that the economy needs.
“Lower rates will give firms the confidence to invest and help get more households spending.”