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U.K. Consumers Stay Under Pressure Even as Pay Squeeze Nears End

  • Wage growth picking up, but real incomes still below 2008 peak
  • Retailers, BOE aren’t optimistic consumers will splash out

The year-long squeeze on living standards may be coming to an end, but U.K. consumers may not be out of the woods just yet.

Workers are enjoying the strongest wage growth in almost three years, while the sharp price increases of 2016 that ate into incomes are fading, leaving workers with more cash in their pockets.