Economics
U.K. Real Wages Are Falling Even Before Inflation Truly Bites
- Average earnings are growing more slowly than inflation
- Figures may cool Bank of England concerns about surging prices
Morning commuters cross London Bridge towards the City of London, U.K.
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U.K. workers were already seeing all of their wages swallowed up by inflation late last year, putting them on the back foot heading into a more severe cost of living crisis in 2022.