ECONOMY
Britain is winning the G7 race to the bottom
May 9, 2023 - A survey finds financial professionals and investors believe the UK will suffer a bigger fall in living standards than any other G7 nation.
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British workers will suffer a bigger fall in living standards in 2023 than those in any other G7 nation, according to a new survey of financial professionals and retail investors.
UK inflation will outpace pay raises to a greater extent than in the other developed economies, with wages falling by 3% in real terms.
The cost of groceries and energy have risen more quickly than the current headline inflation rate of 10.1%, fanning the flames of mass strikes in what is being seen as the most widespread industrial action in a generation.