Average pay drops as inflation soars

The average pay has dropped by 0.4 per cent, new figures have a revealed – a day after news broke that inflation has shot up to 2.9 per cent.

Even taking into account bonuses real average weekly earning, taking account of inflation, decreased by 0.4 per cent and by 0.6 per cent excluding bonuses.

Today’s figures are the first time average earnings, including bonuses, have gone into decline since 2014.

GMB says the squeeze in pay and living standards is more evidence the Conservative’s economic plan is desperately flawed.

Tim Roache, GMB General Secretary, said: “These damning figures back up what we already know – that the Conservative’s economic plan does not help ordinarily working people.

“Prices are going up, while wages are going down and that means people graft their socks off and are still skint at the end of the month.

“The UK desperately needs a pay rise.

“Giving working people a proper pay rise would boost people’s spending power and help businesses on Britain’s struggling high streets.

“Ending the public sector pay pinch and enforcing a real living wage must be the first step to lifting millions of working people out of poverty.”

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