WFTU statement on the price increases

The inflation, the consequences of the war in Ukraine, and profiteering, especially in basic necessities, food, and fuel, have shrunk even more the income of the popular strata which was already reduced due to the long economic crisis.  The crisis is exacerbated by the hypocritical stance of the US, the EU, and their allies, which insist on throwing fuel on the raging fire, instead of aiming at the de-escalation and the end of the war.  Their perseverance with the policy of sanctions and the escalation of the conflict -beyond perpetuating the suffering of the Ukrainian people and the risk of generalized conflict- creates additional heavy economic burdens for the peoples of Europe and the world.

The reality is that price increases do not affect generally and equally the whole of society. Profiteering and the effects of inflation affect first and foremost the workers and the ordinary people who spend their wages mainly on basic necessities.  Raising prices combined with persistently low nominal wages reduces the real wage and the purchasing power of employees.  Hence, those who produce everything, and given today’s enormous productive capacities, they could meet all their modern needs, are the ones who find it difficult to purchase even the most essential goods.

The World Federation of Trade unions expresses once again its solidarity with the people of Ukraine and the peoples all over the world who became victims of inter-imperialist competition and the relentless pursuit of profit.  We condemn the profiteering of capital and the indifference of bourgeois governments.  We demand a reduction in taxes, an increase in salaries and pensions, effective measures to deal with price increases, and the securing of the necessary goods for the popular strata.


WFTU Headquarters

Source: WFTU