Coupled with low pay growth, the rising cost of living means real wages are falling, heaping pressure on households. RPI, a separate inflation measure, is expected to have risen at an annual rate of 3.5% in July, the same rate as in June. He forecasts inflation will stick at 2.6% in July, before rising gently in coming months to 3%. Indeed, food prices have risen for seven of the last eight months – with last month being the exception. The jobless rate is forecast to have dipped to 4.4% in the three months to June from 4.5%.

Source: The Guardian August 13, 2017 15:28 UTC