IPPR responds to inflation figure

Responding to the ONS November CPI figures Dr George Dibb, head of the Centre for Economic Justice at IPPR, said:

“Inflation reducing slightly is a welcome sign that inflationary pressures may be receding, but we are not through the economic danger-zone yet. Inflation is coming down around the world yet still above 10% in the UK. Importantly price levels remain high and have risen faster than incomes, so essentials remain unaffordable for some. This is on the brink of a costly economy-wide recession.”

“There are now two things to look out for. First, how will the Bank of England respond and will interest rates continue to rise despite receding pressures? And secondly, how will the government continue to support the most vulnerable households to afford essential products?”