New analysis from Labour reveals families in Suffolk have seen costs rise a total of £1,790,923,000 a year since the last election. Average weekly spending on items measured in the Consumer Price Index has risen 21% since 2019/20, leaving  average household costs £110 a week higher – more than £5,500 a year.

 Labour’s Parliamentary Candidate for Lowestoft, Jess Asato said,

 “Families in Lowestoft can’t afford five more years of a Conservative Government. The Tories have delivered a decade of failure, and crashed the British economy thanks to their reckless gamble with the nation’s finances.

 “Labour has a plan to get Britain building again. We would kickstart growth in all parts of the country making working people better off. That means real stability and an end to the madness of recent years, building 1.5million new homes, backing British business, investing in skills and making work pay for all.

 “The Labour Party has changed – and we can change Britain for the better. A General Election can’t come soon enough.”

 Rachel Reeves, Shadow Chancellor of the Exchequer, responding to the latest inflation figures from the Office for National Statistics, said:

 “After fourteen years of economic failure working people are worse off. Prices are still rising in the shops, with the average households’ costs up £110 a week compared to before the last election.

 “Inflation is still higher than the Bank of England’s target and millions of families are struggling with the cost of living.

 “The Conservatives cannot fix the economy because they are the reason it is broken. It’s time for change. Only Labour has a long-term plan to get Britain’s future back by delivering more jobs, more investment and cheaper bills.”

  Notes

Average weekly household spending on items measured in CPI was £508.50 in 2019/20 https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/expenditure/bulletins/familyspendingintheuk/april2019tomarch2020

The CPI all items index rose by 21% between 2019/20 and the latest data in January 2024 https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/d7bt/mm23

That is worth £110 a week (rounded to nearest £10)

There are 313100 households in Suffolk

313100 x £110 x 52 weeks = £1,790,923,000