Food inflation is a global issue, insists work and pensions secretary
HIGH food price inflation is a global issue and not unique to the UK, according to the Work and Pensions Secretary Mel Stride MP.
He told GB News: “We recognise that with high inflation, where we are not unique in that respect, there are a number of countries that have very high inflation.
“In fact, when it comes to food inflation, countries like Germany and Sweden and Portugal have food inflation running at over 20%. So we are not unique, but we do recognise the pressures that that brings.”
In a discussion during Breakfast with Eamonn Holmes and Isabel Webster, he continued: “So a payment of £150 will be for six million disabled people, it will go out between now and 4 July.
“People don’t need to apply, it will automatically go into their bank accounts where they’re qualifying for certain benefits such as personal independence payments and disability living allowance and various other benefits.
“But this is part of a much broader package of support that we’re putting out there. Eight million low income households are going to receive £900 across the course of this year, pensioners £300 along with the winter fuel payment.”
Asked about increases in mortgage interest rates, he added: “We’re also unfortunately not unique in having rising interest rates, because that’s the monetary response that, quite rightly, the Bank of England is adopting to bring inflation down.
“The most important thing we can do now is to bring inflation down. And I’m confident that the Prime Minister’s objective of having inflation by the end of this year will be met.”