Inflation soaring at 7.5%

RPI is at 7.5%, the highest it has been in 30 years. There are some signs that pay rises are seeing a boost too, but they are not yet keeping up with the soaring prices. Payline, which records actual pay settlements, shows that earnings growth remained steady, at 4.8% in December. Meanwhile, AWE shows 3.5% growth in regular pay for the whole economy in November with only meagre rises of 1.9% in manufacturing and a slight drop in growth to 2.7% in the public sector. Finance and business services appears to be the only sector keeping pace with inflation at 6.4%. Construction also took a dip to 2.4% in November while retail wages saw an uptick to 3.8%..

https://www.ons.gov.uk/economy/inflationandpriceindices

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours