Office National Statistics
Earnings growth likely to have slowed in recent months
Commenting on the latest ONS inflation figures, which show that CPI inflation increased to 0.5 per cent in March, Adam Corlett, Economic Analyst at the Resolution Foundation said:
“While inflation remains close to historic lows, today’s larger than expected increase is set to dampen real wage growth.
“Our projection show that earnings growth may actually have slowed in recent months, emphasizing the need to get our pay recovery back on track.
“Stronger productivity growth ultimately holds the key to securing better pay rises over the coming years. Rising to this challenge is particularly important in the often neglected low-paying sectors of the economy, which are most affected by the new National Living Wage.”
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