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Insider UK

Business

Henry Saker-Clark & Peter A Walker

Workers face record pay slump against surging inflation

Inflation United Kingdom

UK workers saw their pay lag behind inflation at record levels over the past quarter.

The Office for National Statistics (ONS) stated that regular pay, excluding bonuses, grew by 4.7% over the three months to June.

It comes after consumer price index (CPI) inflation hit a new 40-year record of 9.4% in June and is expected to peak at around 11% later this year.

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