Inflation projections will cause shock and fear

Dave Innes, Head of Economics at JRF said:

"The prospect of inflation at 10% later this year will cause shock and fear throughout the country for people who are already finding themselves unable to heat up food, limiting showers to save on energy costs, and riding buses to keep warm.

“Today’s projections show that we are nowhere near the end of this crisis, with a high chance of recession and rising unemployment adding to the economic shocks to come. Many will now be facing a winter of grinding daily hardship and worry about being able to access the essentials we all need to live.

"The government must ensure that as a minimum, benefit are increased to match the real rise in living costs. The social security system was woefully inadequate even before the cost of essentials began to shoot up, and needs urgent strengthening if we are to protect people from the harm that could be inflicted in the months to come.”