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Dharshini DavidDeputy economics editor<\/p>\n
Low income households continue to face inflation painpublished at 09:14 BST<\/p>\n
09:14 BST<\/p>\n
Dharshini David
Deputy economics editor<\/p>\n
No
\nsurprises here for analysts but this morning’s figures underscore the frustration many households feel. <\/p>\n
Wages for many have risen at a faster pace than
\ninflation – but even for those people, they are frustrated that their money is
\nstretching a bit less further
\nthan hoped. <\/p>\n
It\u2019s particularly painful for those on lower incomes, as the resurgence of inflation has
\nbeen rooted in staple products. <\/p>\n
There\u2019s anxiety too for homeowners or landlords, who hope
\nthat interest rate cuts later this year may be looming.<\/p>\n
But
\nmuch of the recent rise in inflation has been spurred by
\n global commodity prices – energy and food – and many of those pressures are subsiding. <\/p>\n
One factor that has led to food inflation outstripping rates in Europe
\nis government policy. <\/p>\n
The Bank of England are among economists
\nwho\u2019ve suggested that measures such as higher National Insurance
\nContributions and minimum wages may have added more than 1% to food prices, while adding to cost pressures elsewhere.<\/p>\n
Those
\ntoo should pass – but could there be more? The boss of Aldi has warned that more price rises may loom, depending on Budget measures. <\/p>\n
The government
\nsays the Budget will help to ease the cost of living pressures
\non consumers and businesses – we will have to wait to see exactly what that means.<\/p>\n