Posts Tagged ‘inflation’

Wages rising faster than inflation

Wednesday, April 16th, 2014

There’s more good news for the British economy as wages are increasing at a higher rate than that of inflation, for the first time in six years.

It was announced yesterday (15th April 2014) that inflation had fallen for the sixth consecutive month to 1.6 per cent. Meanwhile pay is increasing across the private and public sector.

The ONS reports average earnings rose 1.7 per cent in the three months to February compared with a year earlier, up from 1.4 per cent last month.

Unemployment is also falling. Figures suggest only 6.9 per cent of the workforce is out of work, the lowest figure since February 2009.