Inflation Fall Shows Bank Should Hold Off Interest Rate Rise, Says TUC
Commenting on this week's inflation figures from the Office for National Statistics, which show CPI inflation down to 2.5% TUC General Secretary Frances O’Grady said:
“Wages are still worth less than before the financial crisis, leaving many working people struggling to get by. A hike in interest rates is the last thing they need, and the fall in inflation shows the Bank of England should hold off.
“What people really need is higher wages, not higher interest rates. It’s time for a new deal for working people that makes wage growth a much higher priority.
“The government should start by funding a proper pay rise for every public sector worker this year. And they must raise the minimum wage to £10 an hour as quickly as possible, so that more families can get by without getting into debt.”
The TUC is holding a march and rally in London on Saturday 12 May demanding a new deal for working people.
Inflation Fall Shows Bank Should Hold Off Interest Rate Rise, Says TUC, 21st April 2018, 21:26 PM