Responding to the ONS CPI figures for March Dr George Dibb, head of the Centre for Economic Justice at IPPR, said:
"Household budgets are feeling the pressure from high inflation, which remains in the double digits according to new data. Even though petrol prices have fallen, the cost of essential items like food continues to rise.
“While families struggle to make ends meet, some companies continue to make higher profits from these price hikes, ignoring the impact on consumers. It's time for policymakers to look at 'greedflation' and prioritise reining in corporate profits, instead of blaming workers' wages for driving up inflation."