Steve McCabe MP is calling on the Chancellor to ease pressure on family budgets after latest figures reveal inflation remains at 5-and-a-half-year high with food prices on the increase.
Ahead of the Autumn Budget next week, Steve McCabe MP has been asking constituents how the rising cost of living is affecting them. The MP is particularly concerned about the continued rise in food prices after his survey revealed that food shopping is causing the greatest pressure on household budgets, closely followed by the cost of energy bills.
The MP’s survey revealed that over three quarters of constituents (78%) said their wages have not kept pace with inflation and 80% of people said rising prices are an issue for their family.
Figures released by the Office for National Statistics today show the UK Consumer Price Index remained at a five and a half year high of 3%. According to official figures the inflation rate for food and non-alcoholic beverages continued to increase to 4.1%, the highest since September 2013.
Steve McCabe MP said:
“News today that the inflation rate for food continues to rise will be a real blow for my constituents struggling to make ends meet. I’ve been asking people how rising prices are affecting them and they are telling me food shopping is one of the greatest pressures on their budgets.
“After 7 years of austerity, stagnating wages and rising prices, the Chancellor needs to act to make life a little easier for my constituents who are paying the price for a failing government and a failed tory economic experiment.”