New GFTU publication: The True Causes of Inflation

The True Causes of Inflation: Weak Production and High Profits

The “cost of living crisis” in the UK can be simply summed up: prices, especially of essentials, are too high, and wages, and other working-class incomes are too low.

The basic steps to resolving the crisis are simple: prices, especially of essentials, must be brought down, and wages, salaries, benefits, and pensions must be increased.

This pamphlet, produced by the General Federation of Trade Unions (GFTU) and written by Costas Lapavitsas, James Meadway & Doug Nicholls, shows that the big businesses dominating production and distribution make huge profits out of high inflation, while working people lose out. It sets out factual evidence to illustrate that the source of record profits is the fall in real wages as inflation rises. A large part of the income of working people is transferred directly into the profits of big business.

Download a copy here.