Branch Secretary : info@housingworkers.org.uk
Branch Chair : info@housingworkers.org.uk
  

Inflation hits 12.3%

Today’s ONS figures show inflation up again: 10.1% CPI and 12.3% RPI. Unite uses the RPI measure in pay claims because it best reflects inflation as experienced by workers.

 

 

Pay increases need to be 12.3% or more to avoid further real terms pay cuts. Yesterday’s figures for real wages showed the sharpest reduction of real wages on record – so much for the argument that wages are driving inflation.

 

For Unite Sharon Graham commented, “Today inflation reached new perilous levels for workers and their families. Yesterday, real wages fell to the lowest on record, So, if today’s figures prove anything it’s that wages are not driving inflation. Since the pandemic, the FTSE top 350 have seen profits soar by 43 per cent. Britain has a profiteering crisis - when is something going to be done about that?"

 

Unite is committed to supporting any group of members fighting to defend their living standards.

 

17 August 2022 

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