Inflation has reached a 10 year high with the consumer prices index (CPI) measure of inflation in November reaching 5.1 per cent up from 4.2 per cent from the previous month
November’s inflation figure was the highest since September 2011 driven by higher prices for fuel, fashion, food and second-hand cars.
The rise means that Inflation is now rising faster than pay, meaning people face falling real wages again.
Basic pay growth slowed to 4.3% per year in August-October, figures yesterday showed
