Photographer: Chris Ratcliffe/Bloomberg

U.K. Workers Are Feeling the Pain From Faster Inflation: Chart

U.K. consumer spending fell for the first time in almost four years in May, according to a report from Visa, and data Tuesday and Wednesday will spell out clearly the reason why. The depreciation of the pound has inflation running at the fastest pace in more than three years, while wage growth is heading in the wrong direction. That’s also expected to show up in weaker retail sales data on Thursday.

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