ONS figures | Wages outpacing inflation and unemployment still rising

New figures suggest that wages are outpacing inflation for the first time in 18 months.

The most recent employment data from the Office for National Statistics (ONS) shows wages increased 7.8% compared to the same time last year.

This figure was ahead of the consumer price index (CPI) measure of inflation for the month of July, which eased to 6.8%, suggesting that UK wages are now outpacing the cost of goods and services.

Despite this, experts warn that many UK employees will still be feeling the pressures of the cost-of-living crisis, and spectators shouldn’t assume that workers are better off because of these figures.