The big squeeze: Britons face a cut in real wages as collapsing pound could send inflation soaring to 3% next year



Britons face a cut in their real wages as the collapsing value of the pound stokes inflation, economists are warning this weekend.
Sterling, already languishing after the Brexit vote, took a fresh battering late last week, and economists warn that the falling pound could lead to inflation soaring to 3 per cent or higher next year. With pay rises averaging just 2.3 per cent a year, the higher prices would mean a cut in earnings in real terms.
Paul Hollingsworth at research firm Capital Economics said: ‘The Bank of England’s rule of thumb is that a 10 per cent fall in sterling boosts... read more

 
8 October 2016 in Business, Views: 40
Source: Daily Mail
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