BBCNEWS BBC News at One June 4, 2024 13:08:00
Theo, less than half the rate of inflation in terms of these rises? yes, and there is a reason for that. although inflation is very high, the cost of living is a problem for people. the government has stepped in and it has pegged to the increase of ticket prices not to the retail prices index, which is the measure of inflation normally used, but to average growth in wages, on the principle that people can keep up with that. to give you an indication of the magnitude of what would have happened, the retail price index in july, which is when the measure would normally be taken, was 12.3%. that w...