“For all the talk of the pandemic (somehow) boosting worker power, it looks more likely to deliver the third real wage squeeze in a decade, and to leave workers substantially worse off than they would have been otherwise. By the end of 2024, average earnings are set to be £740 a year lower than they would have been if even the sluggish wage growth prior to the pandemic had continued.”
Inflation
Why is inflation at its highest for decades?
As UK inflation hits a 10-year high of 5.1%, a leading Scottish economist asks why global prices are rising so fast – and what central banks must now do.