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Living Standards in UK Fall as Rising Prices Outstrip Pay

  • As per reports, the rising prices led to the fall of standard of living in UK. The situation has appeared to be so for the first time since 2014.

    According to the Office for National Statistics' labor market data, in February, the regular pay in UK was 1.9% higher than previous year. However, it is now running below 2.3% increase in prices.

    Reports also say that the last time regular pay growth lesser than headline inflation was in 2014, when the growth of wages was by 1.2% while inflation was around 1.5%.