ONS stats | Government 'scapegoating' wage hikes as cause of inflation, union warns

The Office for National Statistics (ONS) has revealed that wages are at a record high, seeing a 7.3% increase in the three months to May compared with the same period last year.

Wages have seen a marked growth since many workers have sought a pay rise in an attempt to keep up with the cost-of-living crisis.

Despite this, the figures also suggest that these efforts have been to no purpose for some, as wages are still falling short of inflation. The ONS findings are timely considering a meeting this week, where MPs from the Treasury Committee will question mortgage providers on the current state of the mortgage market, where average two-year fixed mortgage rates are at a 15 year high of 6.66%.

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