Figures released today by the Office of National Statistics (ONS) show that average wage growth is still running well below inflation, meaning real wages continue to fall.
With inflation at a near six-year high of 3.1%, real wages fell by 0.4% compared with last year.
Commenting on today’s news, Stella Creasy MP, leading supporter of Open Britain, said:
“The Brexit squeeze continues to tighten its coils around wages and living standards. Today’s figures show wage growth still running well below inflation.
“With inflation running at a near six-year high of 3.1% thanks largely to the Brexit-induced collapse in the value of the pound, real wages have fallen yet again.
“With Christmas coming up, that means family finances will have to be stretched ever further to make ends meet. As new facts like these come to light, and as the economic cost of Brexit continues to get worse, people have every right to keep an open mind about whether this is the right path for the country.”
Notes to editors:
The full ONS report can be found here.