Figures released by the Office for National Statistics (ONS) show that the rate of inflation has increased to 2.9 per cent in June, up from 2.7 per cent in May.
Figures released today by the Office for National Statistics (ONS) show that the rate of inflation has increased to 2.9 per cent in June, up from 2.7 per cent in May.
This represents a 14-month high, and further squeezes the real earnings of workers who have seen pay freezes and in some instances pay cuts over recent years.
The below graph shows just how much employee earnings have been squeezed by inflation since the Tories took office. (HT: @MarkitEconomics)
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One Response to “Graph: Falling pay under the Tories”
OldLb
1. Trigger inflation. Lower wages in real terms.
2. Whack on the tax – lower take home pay.
3. Open the doors to migrants. Supply and demand, means falling prices or wages.
4. Tax companies, They move elsewhere or demand lower costs – wages.
Yep, government is at the root of the problems. The problem is the state.