Responding to new figures showing inflation has reached a 30 year high of 5.5%, Liberal Democrat Treasury Spokesperson Christine Jardine MP said: “Families are facing an unprecedented cost of living crisis, with a triple whammy of spiralling energy bills, Conservative tax rises and 30-year high inflation.
“People are worried about heating their homes and putting food on the table, yet all we’ve seen from this Government is half measures and a raft of tax hikes in April. That’s not the leadership people need in this crisis.
• December’s 5.4% annual rise in consumer prices was the highest since 1992, and the Bank of England has imposed consecutive interest rate hikes for the first time since 2004 in a bid to contain runaway inflation.
• The Bank of England expects inflation to peak at 7.25% in April, with the energy regulator increasing its energy price cap by 54%.
Read more about the UK’s inflation rate at https://www.bbc.co.uk/news/business-12196322
“Ministers need to stop wringing their hands and give families a lifeline, by providing proper help with energy bills and scrapping their unfair national insurance tax rise.”