UNIONS called for an end to “rampant profiteering” as official figures showed food inflation remains at a painfully high 9.2 per cent in the run-up to Christmas.
Unite general secretary Sharon Graham said yesterday’s larger-than-expected drop in overall inflation would not offset the real-terms fall in wages this Christmas.
She said: “Headline inflation might be slowing, but workers know their wages aren’t going as far as they did two years ago.
“Even the competition regulator now admits what Unite has said all along: that firms have been exploiting the cost-of-living crisis to raise prices excessively.
“It’s time the government and Bank of England tackled the rampant profiteering in our economy to get inflation under control.”
Responding to the figures showing CPI inflation slowing to 3.9 per cent and RPI inflation to 5.3 per cent, TUC general secretary Paul Nowak added: “Today’s inflation figures will provide scant relief for hard-pressed families. Prices are still going up — just a bit more slowly.
“Household budgets remain under immense pressure. And many families will struggle with the cost of Christmas, with food and energy bills sky high.”
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