GMB paused for ‘breaking news’ – and it’s bad news for Rachel Reeves
GMB announced breaking news this morning, as Charlotte Hawkins informed viewers that UK inflation has jumped, with prices rising by 3 percent.
Good Morning Britain was paused this morning as Charlotte Hawkins and Richard Madeley delivered some breaking news about UK inflation.
The ITV daytime programme was halted after it was announced that prices rose by 3% in the year to January, the fastest rate in 10 months.
The figures are far from the Bank of England’s 2% target, which meant 'bad news' for Rachel Reeves. The Office for National Statistics states that the rise was caused by air fares, food, and private school fees.
The news means that, on average, something that cost £1 a year ago will now cost £1.03. City economists expected inflation to rise to only 2.8 per cent in January.
The rise will be a huge blow to the Labour Government and Rachel Reeves, who breathed a sigh of relief as the CPI dropped from 2.6% in November to 2.5% in December.
According to GB News, the governor of the Bank of England, Andrew Bailey, described the UK as having a "weak growth environment" because of global economic uncertainties.
Chancellor Rachel Reeves previously stated that her “number one mission” was getting “more pounds in pockets” after January's inflation increase to 3 percent.
She commented: "Since the election, we’ve seen year-on-year wages after inflation grow at their fastest rate—worth an extra £1,000 a year on average—but I know that millions of families are still struggling to make ends meet.
“That’s why we’re going further and faster to deliver economic growth.”
