Cost-of-living crisis still hammering households as recession predicted
THE cost-of-living crisis is still hammering households in every corner of the country, the TUC warned today, as inflation figures remained unchanged and Britain is believed to have slipped into recession.
The union body called for ministers to extend cost-of-living payments which are set to end by March after figures by the Office for National Statistics (ONS) revealed that Consumer Price Index (CPI) inflation remained at 4 per cent in January.
Food prices fell for the first time by 0.4 per cent since September 2021, with the cost of bread and cereals, cream crackers and chocolate biscuits falling, the ONS said.
Similar stories
Experts warn not to overplay the risk of wage growth to inflation
‘The Bank of England must act decisively and cut rates to get the UK economy back on track,’ IPPR says