By Charmaine Wong, Amelia Neath and Sonal Nain

Figures released yesterday from the Office of National Statistics show the overall inflation rate is at 11.1%, the highest since 1981. The Autumn Statement is to be delivered later today by Chancellor Jeremy Hunt and will outline the Government’s supposed plans for raising taxes and spending cuts to cover debt, partly caused by Truss’ mini-budget.

Eastlondonlines took to the streets of our boroughs to investigate how inflation has affected local people and what they would like to see from the Autumn Statement.

Ulas Ocanoglu, a 49-year-old owner of Goldsmiths Wine Ltd in New Cross said: “Inflation has affected us deeply. Goods have become more expensive, and staff are asking for more wages to survive … It’s our biggest challenge yet but we try our best to ensure our business stays afloat and keep my staff happy.”

Ocanoglu also spoke about the struggle of competing with the chain supermarkets: “It’s very sad that the government allows them to open everywhere. Even though our products may be cheaper than theirs, the new generation flocks to the bigger establishments.”

Santa Putnina, 30, co-owner of The Deli in Croydon with her sister Evita said: “Our suppliers have increased their prices. We try to keep our prices down and we try to adjust the menu and buy from different suppliers, but it is hard because we still want good quality products. There are less people coming through the door, they have no money to spend because of inflation. It sounds really sad when you say it out loud.”

When asked about what she wants to see in the Autumn Statement, Putina said: “I want support in terms of rent and energy. The height of bills at the moment makes it increasingly hard to make a profit. It is very hard at the moment when bills are high and there is no demand.”

Marija Segeda-Sulakova, a 36-year-old manager of Spitalfields Crypt Trust, a Charity Shop in Tower Hamlets said: “With the increase in inflation we use less heating in the shop to save up money. Customers who come to our shop ask for discounts even more now even though it is a Charity Shop. This has impacted the quality of the products and has led to a decrease in our income.”

She also spoke about how government can help small businesses. She said: “During covid, we applied for a lot of grants, so we got support from there. I don’t understand why Liz Truss introduced the mini-budget which has caused the nation to suffer. I believe Rishi is trying to sort it out but don’t know what’s going to happen.”

Vishal Madou, 35, owner of By The Bottle, an off-license shop in Hackney said: “With inflation, prices of goods have increased. Now the prices for small items like chocolates and fruit have hiked up and we have stopped selling items for under one pound now. Prices are going up every day and people do not want to spend money, which has led to a decline in customers.”

He added: “If they increase taxes and cut spending that is robbery. The people are becoming poorer in this country, amid the cost-of-living crisis.”

Madou also spoke about the rising competition between small shops in the area: “Customers want cheap stuff, so they are disappointed with the prices and ask for discounts or look for cheaper alternatives.”

David Brett, a 55-year-old bookshop owner from Ladywell said: “I think inflation is affecting everyone. I think there are more and more people coming in and not necessarily buying anything. Bookselling is not immune, but we do better than some businesses because we are selling stuff that’s a lot cheaper.”

Brett thought a change in government would get the economy back up and running but didn’t “think a general election will happen soon because why would they … They’d want to stay in power for another two years and hopefully rescue some of it.”