UK real wages slump 2.7%

When adjusted to inflation

Total and regular pay in the UK fell 2.7% when adjusted for inflation in the three months from August to October, according to the latest figures from the Office for National Statistics.

While growth in average total pay and regular pay was 6.1%, the strongest rate outside of the pandemic period, inflation means people are not feeling the benefit. Derrick Dunne, CEO of YOU Asset Management, said the growth figures adjusted for inflation are "worryingly near the record fall set earlier this year at 3%".   "Pay has been consistently falling in real terms month after month and these figures show that many people in the UK are far from being in a healthy financial position," the CEO added. Yellen predicts US inflation will be lower next year Meanwhile, unemployment ...