ONS

New data from the Office for National Statistics (ONS) shows that the regular pay of UK employees, excluding bonuses, was down an average of 3% in the three months to June when accounting for spiralling inflation.

In the three months to June, the UK economy contracted amid the worst inflationary crisis in decades.

According to the Office for National Statistics (ONS), UK inflation jumped to 9.4% in the 12 months to June from 9.1% in May, hitting a renewed 40-year high and placing further pressure on households.

In May, imports from Russia sunk to their lowest point in over two decades as sanctions continued to impact the country’s trading relations.

In April, UK inflation jumped to a more than 40-year high, partly due to rising food, energy and fuel prices, as well as the ongoing conflict in Ukraine.