Worthing MP says high inflation rate is ‘bad news’

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AN MP has said the revelation about the increased inflation rate is “bad news” for Worthing residents.

This month’s official inflation report showed the headline rate of inflation jumped from 4.5 per cent to 5.2 per cent.

It is thought it will be elderly households which will face the highest rate of inflation, driven by increases in gas and electricity prices.

Peter Bottomley, MP for Worthing West, said: “This is very bad news for pensioners and people living with low or fixed income.

“It is the figures which will be used to upgrade the state pension, which may be a little comfort if inflation drops next year.

“It shows the importance of getting the economy under control. I know there are 10 savers for every borrower so the news for people in Worthing is bad.”