British earnings tumble after inflation at the fastest pace since 2014

British earnings tumble after inflation at the fastest pace since 2014

After inflation British employees’ earnings dropped at the fastest pace since 2014 for the three months to April, thus underscoring the ascending Brexit squeeze facing numerous households, as official data disclosed on Wednesday.

The figures reflected the challenge facing Prime Minister Theresa May as well as her new government, with clues that households are facing the strain of ascending prices since the previous year's vote to abandon the European Union, applying pressure on the broader economy.

The data also demonstrated that the unemployment rate from February to April stood still at a more than four-decade minimum of 4.6%, which is in line with the median prediction for Wednesday's figure in a Reuters survey of financial experts.

In May, inflation reached a nearly four-year peak of 2.9%, as official data disclosed on Tuesday, which is stronger than experts had expected.



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