Johnson warns of ‘wage-price spiral’ if workers demand higher pay

Guardian News published this video item, entitled “Johnson warns of ‘wage-price spiral’ if workers demand higher pay” – below is their description.

Boris Johnson, speaking in Blackpool, says the UK government cannot simply respond to rising inflation by paying people more and has to accept that some forms of support can be inflationary, adding that when ‘faced with inflationary pressure, you can’t just spend your way out of it’ 

Boris Johnson promises action on cost of living crisis but says higher wages risk further inflation – UK politics live

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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