Channel 4 News
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Wages dive as inflation soars and recession looms
Posted
August 16, 2022
Views
140,319
Likes
1,394
Comments
855
Engagement
1.60%
August 16, 2022
140,319
1,394
855
1.60%
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10:22Now PlayingOn the face of it, it sounds like good news - average wages rose by almost 5% between April and June.
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But inflation has soared so high, so fast, the real value of pay packets actually fell by 3%.
Energy bills, higher food and fuel costs have pushed the UK inflation rate to a 40-year high, and tomorrow - it's expected to leap even higher.
Put simply, any wage growth has been eaten up by the skyrocketing cost of living.
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