Britain’s cost of living crisis moved into its fourth month in February despite a jump in wages and a fall in unemployment to 3.8%, its lowest level since 1974.
The Office for National Statistics said average earnings growth of 5.4%, including bonuses, failed to keep pace with a 6.2% rise in the consumer prices index in February, while for those who missed out on a bonus the situation was even worse after average wages increased by only 4%.