The transparent attempt by the government to selectively reinterpret the data so as to downplay the so-called ‘cost of living crisis’ is frankly rather alarming.
Tag Archives: inflation
Anyone taking a closer look at the figures can see that one measure of inflation has gone down, while the other has gone up.
Inflation in Britain is the joint highest in the EU, according to a relase out today from the statistics office of the European Union.
Yet again inflation has outpaced wages as figures realeased today by the Office for National Statistics show the Consumer Price Index at 2.7 per cent – unchanged from August.
Figures released by the Office for National Statistics (ONS) show that the rate of inflation has increased to 2.9 per cent in June, up from 2.7 per cent in May.
A minimum wage worker would need to work for 380 hours a week to match the annual salary of someone at the 99th percentile, according to research by the Resolution Foundation.
Although the government deserves a degree of credit for seeing off calls from business leaders to freeze the minimum wage, by increasing it to £6.31 – meagre increase of twelve pence – it has yet again failed to ensure the minimum wage is above inflation for the third year running.
TweetTony Dolphin is the chief economist at the IPPR and a regular contributor to The Guardian and New Statesman. During the autumn statement last month, George Osborne claimed that the UK economy was slowly on the mend; however, the latest data indicates the opposite may be true, despite the economic expansion in the third quarter (Q3) of 2012. It is looking […]
IPPR’s Tony Dolphin offers his outlook for 2013 and damns the lack of vision on the part of the coalition’s economic plan for the year ahead.
The stubborn nature of inflation stops the Bank of England from acting, pushes living costs further up and is seemingly ignored by the government.