Wages fell by 3.2% in real terms in the UK in August, exclusive research by the Reach Data Unit has found. The average person paid via PAYE earned £2,113 in August, according to data from the Office for National Statistics. That’s up from £2,109 in July and £1,984 in August 2021. However, wages have failed to keep up with the rate of inflation.
The Consumer Prices Index (CPI) rose by 9.9% in the 12 months to August, the ONS announced this week. While that’s down from 10.1% in July, it still means prices are rising faster than wages. It means that wages have fallen 3.2% in real terms on average, when adjusted for inflation.
TUC General Secretary Frances O’Grady said: “Every worker deserves a decent standard of living. But as the cost-of-living crisis intensifies, millions of families don’t know how they will make ends meet this winter.
