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Wages plummet to lowest level in over a decade as cost-of-living soars
Inflation is expected to reach an eye-watering 9.1 per cent, yet the head of the Bank of England's says people shouldn’t ask for a pay rise.
Bank of England's Governor Andrew Bailey, who was paid £575,000 last year, says workers should “think and reflect” before asking for a pay rise
WAGES have plummeted to the lowest level in more than a decade as they fall behind rocketing inflation, which unions warned today could spell disaster for many working people.
Regular pay excluding bonuses dropped by 2.9 per cent in March when taking Consumer Prices Index (CPI) inflation into account — the biggest fall since November 2011, the Office for National Statistics (ONS) said.
In the three months to February, real regular pay was 2 per cent lower, the steepest decline since 2013.
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