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World

Record pay deals will worry the Bank of England

13 June 2023

7:24 PM

13 June 2023

7:24 PM

Wages are slowly closing the gap with inflation, up 7.2 per cent in the year to April versus inflation of 8.7 per cent. It adds up to a real-terms decrease. It’s the 18th real-terms fall in a row – though the fastest nominal rise on record outside the pandemic. The new minimum wage (up nearly 10 per cent to £10.42

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