Comment on inflation figures
The triple threat underlying the UK's rising inflation.
By George Smeeton
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Commenting on the news that the UK inflation rate has hit 10.1%, according to the Office for National Statistics (ONS) [1], Matt Williams, Climate and Land Programme Lead at the Energy and Climate Intelligence Unit (ECIU), said:
"The jump in inflation above 10% has been accelerated by a triple crisis - for food, water, and energy - that is driven by climate change impacts and the burning of expensive fossil fuels.
"The drought could decimate crop yields, driving food prices up even higher. The costs of dealing with the floods and droughts that climate change is bringing might be passed on by water companies through bills. Sky-high gas prices will add £2500 to people's energy bills this winter.
“There's only one way out of these three crises: achieving net zero and limiting climate change. The way to protect families against high bills and farmers against extreme weather is to insulate homes to cut energy use, to support farmers to store more water and carbon on their land, and to replace expensive fossil fuels like gas with cheap renewables like wind and solar."
ENDS
Notes to editors:
- ONS: Consumer price inflation, UK: July 2022: https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/july2022
For more information:
George Smeeton, Head of Communications, ECIU, Tel: 07894 571 153, email: george.smeeton@eciu.net
Matt Williams, Climate and Land Programme Lead, ECIU, Tel: 07854 575 690, email: matt.williams@eciu.net