Inflation - no end in sight
Inflated food prices driving February inflation - Unite says workers have no choice but to fight for better wages
Reading time: 2 min
Commenting on the latest ONS inflation figures released on Wednesday (March 22), Unite general secretary Sharon Graham said, “Inflation is back on the rise and workers continue to be hammered by high prices.
“Unite’s own research shows that it’s profits propelling inflation, while workers’ wages struggle to keep up. In 2021, Tesco, Sainsbury’s and Asda made combined profits of £3.2 billion, nearly double pre-pandemic levels. It’s no wonder workers are struggling with rising food prices.”
“There’s no end in sight to the cost of living crisis and people are sick of seeing their budgets get stretched thinner and thinner every month while big business racks up record profits. Unite’s ongoing fight to win better jobs, pay and conditions continues.”
New Unite research, analysing the FTSE 350 shows how profit margins for the first half of 2022 were 89% higher compared to the same period in 2019.
By Ciaran Naidoo
