Tuesday 18 January 2011

Inflation rises (again)

The latest inflation figures are out today, showing the cost of living (RPI) up 4.8% in the year to December, and even the artificially lower CPI that the government and media quote so much up by 3.7%.

Pay rises have continued to lag behind the increase in the cost of living for a number of months, meaning standards of living for most workers falling rapidly. As I've previously highlighted, this is one of the key planks of the effort to make working people pay to boost profits following the financial crisis.

These figures don't even include this month's VAT rise.

There can't be many workplaces where "productivity" hasn't been driven up over the last year or so, with fewer workers working longer and harder (for less). This means workers getting an ever smaller share of the wealth we produce.

Anyone want to join the union and campaign to protect our standard of living? You'd have to be hopelessly naive to think you could stop this on your own...

No comments: