'Skyrocketing' inflation will only get worse with predicted 70% energy price surge

GMB Union says today’s ‘skyrocketing’ inflation figures will only get worse with a 70 per cent energy price hike predicted this year.

The Consumer Prices Index measure of inflation rose by 5.4% in the 12 months to December - its highest rate of increase for 30 years.

The union says ‘the chickens are coming home to roost’ after years without a proper energy strategy.

Gary Smith, GMB General Secretary, said:

“The UK’s skyrocketing inflation is driven by out-of-control energy prices - and it’s only going to get worse, with an unprecedented 70 per cent price rise predicted this year alone.

“For years we’ve had no discernible energy strategy, no storage or home-grown generation to protect against fluctuating markets, no affordable long-term energy supply, and a failed approach to renewables funding – which should come from general taxation, not the current green poll tax.

"Now chickens are coming home to roost.

"GMB members across the UK facing this cost-of-living crisis are taking on bosses and winning the big pay rises they deserve.

“Employers should be aware: workers want better and will take action to get it.”