Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Soaring Inflation Means Britons Face Biggest Fall in Real Incomes in 30 Years [View all]
ECONOMY | EUROPE ECONOMY
Soaring Inflation Means Britons Face Biggest Fall in Real Incomes in 30 Years
Inflation is shooting past wage growth in the U.K., as energy and food prices surge
By Isabel Coles and Jason Douglas
https://twitter.com/isabelcoles
isabel.coles@wsj.com
https://twitter.com/wsj_douglasj
jason.douglas@wsj.com
Feb. 14, 2022 5:30 am ET
LONDON—British households are facing the biggest fall in real incomes in 30 years as inflation gallops ahead of wage growth, a stark illustration of the challenge facing central banks as they try to tame prices without snuffing out recoveries from the pandemic.
The Bank of England forecasts that average incomes in Britain after accounting for wage growth, inflation, tax increases and benefit changes will fall by 2% this year—the steepest decline since comparable records began in 1990. The pinch is expected to hold back the broader economy just when it needs all engines firing to propel itself clear of the slump caused by the pandemic.
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN
Soaring Inflation Means Britons Face Biggest Fall in Real Incomes in 30 Years
Inflation is shooting past wage growth in the U.K., as energy and food prices surge
By Isabel Coles and Jason Douglas
https://twitter.com/isabelcoles
isabel.coles@wsj.com
https://twitter.com/wsj_douglasj
jason.douglas@wsj.com
Feb. 14, 2022 5:30 am ET
LONDON—British households are facing the biggest fall in real incomes in 30 years as inflation gallops ahead of wage growth, a stark illustration of the challenge facing central banks as they try to tame prices without snuffing out recoveries from the pandemic.
The Bank of England forecasts that average incomes in Britain after accounting for wage growth, inflation, tax increases and benefit changes will fall by 2% this year—the steepest decline since comparable records began in 1990. The pinch is expected to hold back the broader economy just when it needs all engines firing to propel itself clear of the slump caused by the pandemic.
TO READ THE FULL STORY
SUBSCRIBE
SIGN IN
6 replies
= new reply since forum marked as read
= new reply since forum marked as read