Rise in average wages as unemployment declines to lowest level since 1974
Pay growth failed to keep pace with rising prices in July despite a jump in average wages, according to official data that showed the cost of living crisis continued to affect millions of households throughout the summer.
Average pay including bonuses rose by 5.5% in the three months to July while regular pay (excluding bonuses) increased by 5.2%, up from 4.7% in June.
