The Standard View: Inflation may have peaked, but the cost of living crisis has a long way to run

Christian Adams
Evening Standard Comment14 December 2022
WEST END FINAL

Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis

I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice.

Has inflation finally peaked? November’s Consumer Prices Index fell to 10.7 per cent last month, down from the 42-year high of 11.1 per cent in October and below expectations. That drop is likely to be deemed sufficient that the Bank of England’s Monetary Policy Committee can at least slow the pace of interest rate rises, from 0.75 per cent to 0.5 per cent when it publishes its decision tomorrow.

But there is plenty of pain to come. The headline measure of inflation may have fallen — in large part thanks to lower fuel prices, with the cost of filling up a car falling sharply — but food and drink prices continue to soar, up 16.5 per cent, the highest since September 1977. Low fat milk — few people’s idea of a luxury good — is up an extraordinary 45.3 per cent.

That headline inflation is falling is clearly welcome. CPI has skyrocketed since it lay at 0.2 per cent in August 2020. But no one needs to be reminded that it remains eye-wateringly high, sprinting far ahead of wages, contributing to widespread industrial action and the greatest fall in living standards on record.

The pain — political for the Government, financial for workers and travel-wise for commuters — is far from over. And with the price of basic necessities continuing to soar, the Government must focus on support for those most struggling through this cost-of-living crisis.

Backing Ella’s Law

Ella Adoo Kissi-Debrah was just nine years old when she died. Ella lived near the South Circular Road in Lewisham, and was admitted to hospital more than 30 times before dying of acute respiratory failure in February 2013. In 2020, she became the first person in the UK to have air pollution listed on her death certificate.

Today, MPs have launched a campaign to introduce “Ella’s Law” to tackle toxic air in London and around Britain, making breathing clean air a human right. Some may be surprised to learn it is not already. The proposed law would, among other things, force the Government to adopt the target to reduce PM2.5 pollution — tiny particles that can seep into the lungs and heart — to 10µg/m3 by 2030, the same goal as the EU.

At present, Environment Secretary Thérèse Coffey has proposed delaying the deadline to 2040, despite ministers repeatedly promising they would not water down environmental standards following Brexit. Rosamund Adoo Kissi-Debrah, Ella’s mother and a tireless campaigner, calls air pollution “the tobacco of our time” in terms of its impact on public health. She is right.

Improving the capital’s air quality lies at the heart of Sadiq Khan’s mayoralty. Now we need central government to step up too.

The magic of Messi

It’s not just what he does, it’s how he does it. Passes no one else can see, pin-point accurate shooting and the presence that genius affords him — Lionel Messi is transcending this World Cup. After the disappointment of England’s exit, there is some solace in watching greatness in action.

Born a year after Argentina’s last World Cup win in 1986, it feels like destiny that Messi should end the wait. Though France or Morocco, who meet in tonight’s semi-final, may have something to say about that.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in