UK heading for 'stagflation' following inflation increase, Tory minister claims

Shadow Education Minister Neil O’Brien has said that the UK is heading for a period of “stagflation” following the greater than expected rise in inflation announced today. He told GB News:

“The Government can say it's disappointing, but it's the Government's fault. They've inherited a situation where it was low and falling and on target, and got to one where there is this surprising increase in inflation.

“The alarming thing is it's against the backdrop where the economy is stagnating, unemployment is going up, but we're heading into a kind of stagflation, where the cost of living is going up, but the economy is going down.”

FULL STORY HERE.