Living standards squeeze as inflation tops wages
Wage growth has slipped below the rate of inflation, a development that threatens damage to living standards and the wider economy through an erosion of household spending power.
The Office for National Statistics (ONS) reported that average wages, when the effects of bonuses were excluded, grew by 2.2% in the three months to February.
While that was slightly better than economists had predicted, it still marked a 0.1% fall on the previous month's figure, which meant salaries failed to keep pace with the rate of inflation for the first time since the summer of 2014.
The Consumer Price Index measure stood at 2.3% in February and remained steady in figures for the following month, released on Tuesday.
The development adds further pressure to family budgets already being sque...