Catherine McKinnell MP, Labour’s Shadow Treasury Minister, commenting on figures published today showing that the UK has the highest rate of inflation in the EU, said:

“This is yet more evidence of the cost of living crisis facing families across Britain after three years of this Government’s failing policies. Prices have now risen faster than wages in 39 out of 40 months under David Cameron and now we learn that we have the highest rate of inflation of any EU country.

“David Cameron is so out of touch he thinks people are better off, but working people are over £1,500 worse off since he came to office. And even on his preferred measure of disposable income, the latest figures show this fell by 0.7 per cent over the last twelve months. By refusing to acknowledge the crisis facing ordinary people and instead giving a tax cut to people earning over £150,000 David Cameron has shown he only stands up for a privileged few.

“In contrast, Labour would help people struggling with the rising cost of living by freezing energy bills until 2017 and make work pay by expanding free childcare for working parents. And to help 24 million people on middle and low incomes we also want to introduce a lower 10p starting rate of tax.”