Sam Richards responds to the latest inflation figures

Commenting on this morning’s inflation figures, Sam Richards, founder and campaign director for pro-growth campaign group Britain Remade, said:

“The news this morning that inflation remains at 8.7% will be hugely concerning for millions of people across the country who are already struggling with the cost-of-living crisis. This will be made worse by the fact that core inflation, which strips out volatile measures like food, alcohol and energy prices, increased bring even more hardship for already hard-pressed families and businesses.

“Despite recent falls in the cost of energy, bills remain eye-wateringly high, particularly for businesses, which is feeding into higher costs across the economy.

“This shows that we need to let Britain get building and fast- new homes, transport links, and sources of clean energy are all needed. The prime minister could start today by lifting the ban on new onshore wind farms, one of the cheapest sources of energy available, this could be done at the stroke of a pen - unleashing a building boom in cheap secure domestic energy.”