CPI unchanged – John McDonnell comments
John McDonnell MP, Labour’s Shadow Chancellor, responding to news of inflation at 1.7 per cent in September, said:
“As prices rise, individuals and families still face living standards that are worse than before the financial crisis.
“Savage cuts have created a decade of decay in our public services, with problems in our economy compounded by the way the Tories have bungled Brexit over the past three years.
“We’re doing everything within our power to take No Deal Brexit off the table – and then we look forward to an election, and a Labour government with a plan to rebuild Britain.”
Notes to editors
- ONS figures today show the Consumer Prices Index 12-month inflation rate was 1.7% in September: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/september2019.
- New Economics Foundation research shows that average living standards are still yet to recover to pre-recession levels, by around 1.6 per cent or £128 per head: https://neweconomics.org/2019/09/when-adjusted-for-the-lived-experience-of-inflation-gdp-per-head-today-is-still-128-below-2008-levels