Britain’s cost of living crisis has deepened as inflation hit 10.1 per cent today driven by soaring food prices and energy bills.
“The rise was driven by further increases across food, which saw its largest annual rise in over 40 years, while hotel prices also increased after falling this time last year,” ONS director of economic statistics Darren Morgan said this morning.
Shadow chancellor Rachel Reeves said rising inflation is a symptom of a worsening “Tory crisis” being paid for by working people.
“The facts speak for themselves: mortgage costs are soaring, borrowing costs are up, living standards down and we are forecast to have the lowest growth in the G7 over the next two years,” Ms Reeves said.
Chancellor Jeremy Hunt said the government will prioritise help for the most vulnerable while charities are also mounting pressure on Liz Truss to keep the triple lock to “protect pensioners from hardship.”
Cabinet minister refuses to commit to pensions and benefits rising in line with inflation
Foreign secretary James Cleverly said the government takes its manifesto commitments “incredibly seriously” as he refused to commit to pensions and benefits rising in line with sky-high inflation.
Reacting to rate of Consumer Price Index inflation rising to 10.1 per cent in September, he told Sky News: “We’ve seen those inflation figures, obviously the chancellor is going to be making a statement to the House in just over a week’s time.
“The decisions that he and the Treasury team will be making will be very much informed by those figures.
“But boring, though, that is… you know that I’m not going to be pre-announcing any of the measures that might come in that statement on 31 (October).”
He added: “We do take manifesto commitments incredibly seriously, as you know.”
