New data from the Office for National Statistics (ONS) shows average pay between June and August outstripped inflation for the first time since October 2021. According to this morning’s figures, wages rose by 7.8%, with inflation sat at 6.7% in the year to August. Finally some good news…

Those working in finance and business services are seeing the largest yearly pay hikes, while construction workers are seeing the lowest at 5.7%. Public sector wage growth is just about pipping inflation at 6.8%…

Jeremy Hunt said this morning:

“It’s good news that inflation is falling and real wages are growing, so people have more money in their pockets.”

The latest inflation figures are out tomorrow. Stay tuned…