The Office for National Statistics (ONS) announced Consumer Prices Index (CPI) inflation hit 5.5% in January, with wage growth lagging significantly behind. 

In comments largely interpreted as a rebuke to Bank of England Governor Andrew Bailey, the Labour leader said it is “very difficult” to tell people they are not entitled to request pay increases from their bosses. 

Earlier this month, Bailey suggested that workers should not ask for significant pay rises in order to avoid fuelling the rise in inflation. 

Starmer has called on the Conservative government to take action to ease the strain on household finances, including scrapping the national insurance tax increase planned for April which coincides with the energy price cap increase. 

“The Government is forever saying these are forces beyond its control, that it can’t do anything because this is all global,” said Starmer. “Actually, those tax increases are the Government’s own deliberate policy and half their own side don’t think they’re right.”

Labour is also calling for a windfall tax on oil and gas companies that have benefitted from rocketing global prices in order to help reduce consumers’ energy bills.