As predicted: ALL indicators show inflation is up and we’re heading for a crisis
Food and fuel prices are rising fast, powering a far heftier rise in inflation than forecast [Image: Alexander Britton/PA].
Rising food and fuel prices pushed Britain’s inflation rate to 2.3% last month, the highest rate for more than three years.
Inflation was well above the 2.1% expected in a Reuters poll of economists, as grocery bills started rising after years of food getting cheaper.
The bigger-than-expected rise will intensify fears over people’s living standards being squeezed this year by higher living costs. While inflation has been going up, wage growth has been slowing, leaving households worse off.
The TUC said working people were facing the double blow of rising prices and slower wage growth. “If the government doesn’t wake up, we risk sleepwalking into another living standards crisis,” said the TUC general secretary, Frances O’Grady.
Source: Rising food and fuel prices hoist UK inflation rate to 2.3% | Business | The Guardian
The Twitterati are already having fun with this:
Inflation rises. CPI up 0.5 to 2.3%, RPI up 0.6 to 3.2%, new CPIH up 0.4 to 2.3%. Don't ask me why so many! And there are more.
— Paul Lewis (@paullewismoney) March 21, 2017
Inflation hits 2.3% the highest since September 2013, the Tory economic failure continues, the recent budget unravels as inflation soars..
— Angela Rayner 🌹 (@AngelaRayner) March 21, 2017
And here we go. Inflation (CPI) up from 1.8% to 2.3%. Early warnings of an economy faltering.
— 💙Rachael Maskell MP (@RachaelMaskell) March 21, 2017
Remember folks: If you voted Tory at the last general election, this is what you wanted!
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Well I am so relieved that the Ceo’s and Boards have got recent huge pay increases and bonus payments compared to the survey showing that the lower and middle class have had a decrease in their salaries and wages over a similar time. Would hate to think the upper etchelon have not had to downgrade their “bolly” brands. Cheers guys you can thank the very fair Cons for looking after your interests on the back of the downtrodden masses who you keep milking to pay for your bwanker friends mistakes.
I don’t need any indicators to tell me inflation is up all the food I used to buy at adds Tesco and Lidl that was a pound is now £1.25 or more keep up the good work?
This is what the Tories have been working for
When you raise the price of fuel, a policy beloved of the greenies, then the price of everything goes up because if you increase the logistical costs you have to pay for it.
But this is the inevitable outcome of the stupidity of Brexit. I voted to remain but I do feel that the Brexiters should now face the outcome of their stupidity. This will only get worse as May applies her minuscule negotiating ability to her flagship stance and we all will suffer for her inexperience.
The Tories have always been obsessed with inflation. Currently, this is used to justify never ending austerity for the poor and the vulnerable.