Rishi Sunak (Stefan Rousseau/PA)
(Picture: PA Wire)The news that inflation had risen in the UK again last month will surprise no one who went about their Christmas shopping as the country continues to be hit by the duel forces of rising prices and relatively stagnant wages. Chancellor of the Exchequer, Rishi Sunak said: “I understand the pressures people are facing with the cost of living, and we will continue to listen to people’s concerns as we have done throughout the pandemic.”
This was in response to the inflation figures showing that prices were rising at a rate of 5.4% up from 5.1% in November, and it has been predicted could hit a rate of 7% once the energy price rises kick in in April. Alpesh Paleja, CBI Lead Economist, said: “We’ve not seen the end of rising inflation yet. We expect it to peak in the months ahead, not least if, as expected, the energy price cap is raised.
Paleja added: “With prices on the rise and real wages already falling, it’s likely households will face a cost-of-living crunch for much of this year.
What do you think about the latest news on inflation? Is life becoming too expensive for everyone and what would you like to see done about it? Let us know your thoughts in the comments for the chance to be featured on the ES website tomorrow.
Tuesday’s Talking Point: What do you think about the proposed new daily charge for cars in London?
Derogatus said: “To stop the pollution, expand the ULEZ and get the dirty vans & lorries off the road. And how about 100% electric buses?”
James69 wrote: “What this is really about is the need for the Mayor to raise more revenue now that he’s screwed up public transport.”
