‘’The cost of living crisis is not over – no matter how much ministers pretend it is’
UK inflation fell from 3.2% to 2.3% in April, its lowest level in three years – having hit its highest rate for 40 years of 11.1% in October 2022. Nonetheless Tory MPs are taking the opportunity to bask in the news as Rishi Sunak said “today marks a major moment for the economy, with inflation back to normal”.
However, for the millions affected by a continued cost-of-living crisis, it is not the time for Tory Ministers “to be popping champagne corks”, shadow Chancellor Rachel Reeves said, as many have been are quick to highlight the bigger picture on the state of the UK economy.
Shadow Chief Secretary to the Treasury Darren Jones MP pointed out that inflation is still higher than the Bank of England’s 2% target, as he slammed the Tories for “years of chaos” that “people have already paid the price” for, telling Conservatives to “get off the victory lap”.
Trade union leaders have accused the Tories of presiding over the worst living standards for generations, as Paul Nowak, General Secretary of the Trades Union Congress (TUC) said the cost of living crisis “is not over – no matter how much ministers pretend it is.”
Soaring mortgage repayments and increased food and energy bills are still affecting many people, Nowak has stressed, in light of the recent inflation figures.
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Article continues at https://leftfootforward.org/2024/05/higher-prices-here-to-stay-reactions-to-latest-uk-inflation-figures/