Steve expresses concern over inflation figures

Steve McCabe MP, Birmingham Selly Oak, has expressed deep concern about inflation figures released t

 

Consumer Price Index annual inflation stands at 5.2 per cent, up from 4.5 per cent in August. CPI has risen largely as a result of increasing electricity and gas bills.

 

 

Annual inflation as recorded by the retail prices index (RPI) stands at 5.6 per cent in September, up from 5.2 per cent in August. This is the highest RPI annual inflation rate for over 20 years (it was last higher in June 1991 when it stood at 5.8 per cent).

 

 

Steve said:

“The message from these figures is that the economic situation is not getting any better.

 

 

“What it does show is that the Conservative-led government is burying its head in the sand, unemployment is spiralling out of control, the cost of living keeps on rising and growth is faltering.

 

 

“I am worried about the rise in electricity and gas bills, this will have the most direct effect on those most vulnerable in society. I do not want to see the poorest families and the elderly in my constituency going cold in the winter because of the rising cost of living

 

 

“This is the third week in a row disappointing economic figures have been released, when will David Cameron and George Osbourne put ideology aside and put the families of Britain first.”

 

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