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PPI protection: Inflation will cause tough year for workers

Inflation is going to make 2011 a difficult year for workers, an expert has said.

Brendan Barber, general secretary of the Trades Union Congress, claims that the recently announced inflation rates will have an adverse effect on the financial situations of UK workers.

The Bank of England announced yesterday (January 18th) that the Consumer Price Index had increased to 3.7 per cent.

Mr Barber said: "The alarming rise in inflation means prices are running well ahead of pay deals. This will make a tough year for workers even harder to bear, particularly for public servants suffering a sharp real terms pay cut.

"Surely it is now time for the Chancellor to use the budget to reconsider the VAT increase."

He added that the VAT hike and inflation combined will hit workers' wage packets and shopping receipts and damage the economy.

Following the Bank of England's announcement, claimed that inflation will continue for the foreseeable future.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.

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