British workers suffered the biggest fall in their real pay for nearly nine years as a result of the rising cost of living, official figures show. According to the latest data released by the Office for National Statistics (ONS) on April 12, regular pay excluding bonuses tumbled 1.8 percent in the three months to February 2022 when inflation is taken into account, as measured by the Consumer Prices Index (CPI). It was the steepest fall since August to October 2013. Figures for February alone show regular wages dropped 2.1 percent after inflation, which was the biggest drop since August 2013. While pay rose 4 percent in the quarter, it was far outstripped by soaring inflation. Darren Morgan, director of economic statistics at ONS, said: “While strong bonuses continue to mitigate the effects of rising prices on people’s total earnings, basic pay is now falling noticeably in real terms.” The situation …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta