Inflation hits poor hardest - Cable

12.00.00am BST (GMT +0100) Fri 20th Apr 2007

Commenting on the announcement today of a rise in both the RPI and CPI measures of inflation, Liberal Democrat Shadow Chancellor, Vince Cable MP said: "Very few people now believe the official measure of inflation. Far more people take note of the Retail Price Index, which much better reflect their own experience of price rises. RPI is now at its highest since August 1991.

"People on low incomes who spend the majority of their income on essential items are experiencing rates of inflation far higher than the average.

"Many people are feeling the pinch as the increased cost of living hits their pockets.

"With another interest rate rise now widely expected, it is going to be tough for those surviving on low incomes.

"Gordon Brown's budget must include income tax cuts for those on low and middle incomes, paid for by green taxes and increased taxes on the very wealthy."

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