RAPID INFLATION DEEPENING COST OF LIVING CRISIS

Commenting on today’s news that inflation to June has reached  9.1%, Catherine McKinnell MP stated:

“Today’s figures show a deepening cost of living crisis for families across Newcastle North and the country. People are seeing living standards plummet as prices increase, wages stagnate, and the Conservatives increase tax on working people.

“Inflation is rising at the fastest rate in 40 years and the prices of essential food items are rising even faster. Yesterday it was estimated that the average annual grocery shop is due to increase by nearly £400 this year, hitting family finances alongside increases in energy and petrol prices.

“In the North East, as inflation rises, average monthly earnings have fallen even further behind those in London and we’re seeing a devastating increase in levels of child poverty. The Government have to get a grip and take action. It is clear that the short-term headline chasing announcements fail to meet the challenges that families are facing. As this crisis deepens, we need to see real action ahead of what is set to be an extremely difficult winter”.