UK pay falls at fastest rate on record as inflation hits
Regular pay is falling at the fastest rate since 2001 when taking into account rising prices, official figures show.
Between March and May, pay excluding bonuses was down 2.8% from a year earlier when adjusted for inflation - the fastest drop since records began.
Household budgets are being hit by soaring food, fuel and energy costs, with inflation at a 40-year high.
Pay growth was much higher for the private sector than the public sector.
For March to May, average total pay for the private sector was 7.2% higher than the same period last year, before taking account of inflation, according to the Office for National Statistics (ONS). For the public sector the figure was 1.5%.
Inflation - the rate at which prices rise - hit 9.1% in May, the highest level in 40 years, and is expected to climb further by the autumn.
https://www.bbc.co.uk/news/business-62218706