Responding to the latest inflation statistics, Claire Harding, Research Director, Centre for London said:
“Today the inflation rate has fallen slightly, but remains high. This is welcome news but many Londoners won’t actually have experienced a fall as it is driven by falling petrol costs, and many Londoners don’t have cars.Support for energy bill freezes is a welcome start, but the government’s response must also involve recognising the increased pressures, including rising rents, that Londoners face.
As has been the case all year, high inflation – including food price inflation which has continued to rise – means Londoners cutting back during trips to the supermarket, less revenue for Transport for London, and the risk of households being unable to keep up with their bills as their wages lag behind.
Heading into the difficulties of this winter, the new government’s task is to ensure the cost of living crisis is addressed everywhere in the UK as soon as possible.”ENDS
Notes to editors
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