Statement from BITC on rate of inflation
Following the publication of ONS stats showing that inflation remained at 8.7% in May, Sam Balch, Campaigns Director at Business in the Community (BITC), said:
“Today’s figure is a stark reminder that the cost-of-living crisis is still in full swing. People are still struggling to afford essentials, with the cost of everyday items such as food and basic toiletries remaining high.
“Research shows that the cost-of-living crisis affects those on a lower income more, as a higher proportion of their income goes towards essential items. Businesses should therefore ensure that they are doing everything they can to support their employees and customers, especially those who are part of low-income households as they are feeling the impact of the crisis harder than most.”
BITC’s cost-of-living action plan calls on businesses to ensure that they are doing everything they can to reduce the impact of the cost-of-living crisis on employees, consumers, suppliers, and community organisations. The calls to action include:
- Pay the Real Living Wage to employees and contractors
- Ensure employees have the option to work flexibly
- Understand the needs of your lower-income and vulnerable customers, and how the cost-of-living crisis will impact them
- Provide products and services that are genuinely affordable to increase choice for lower-income consumers
- Share goods and equipment with community organisations that are working with lower-income and vulnerable people.
- Support your supply chain to reduce their energy and resource use
Notes to editor
- Read the full Business in the Community Cost of Living Action Plan for Businesses here
For further information, please contact Polly Dacam, Press Officer, at 07713 101878.