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The True Cost of Inflation-Cover-Rotated
The True Causes of Inflation: Weak Production and High Profits

By Costas Lapavitsas, James Meadway & Doug Nicholls

The “cost of living crisis” in the UK can be simply summed up: prices, especially of essentials, are too high, and wages, and other working-class incomes are too low. The basic steps to resolving the crisis are simple: prices, especially of essentials, must be brought down, and wages, salaries, benefits, and pensions must be increased.

This pamphlet shows that the big businesses dominating production and distribution make huge profits out of high inflation, while working people lose out. It sets out factual evidence to illustrate that the source of record profits is the fall in real wages as inflation rises. A large part of the income of working people is transferred directly into the profits of big business.

The RMT’s Eddie Dempsey takes apart idea that pay rises cause inflation

Read the article here on the Institute of Employment Rights website.