Soaring inflation affects real-terms pay, despite record wage increases.
Real-terms pay continues to fall
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Current Affairs
Base interest rate rises to 3%
The Bank of England introduces its largest hike in 33 years.
Third of hospitality businesses at risk of going bust
Soaring energy and food prices are putting a strain on the sector.
Weekly footfall below pre-pandemic levels
Credit and debit card spending drops across all areas.
Median real terms pay falls by 2.6%
Soaring inflation sees real terms rate drop in the year to April.
Inflation rises to 10.1% in September
The rate of inflation returns to July’s 40-year high.
Insolvencies hit highest levels in over a decade
Q2 2022 saw 5,629 insolvencies in England and Wales.
UK economy shrinks by 0.3% in August
Decrease in GDP strengthens concerns of recession.
Bank of England reinforces bond buying scheme
New measures announced for the final week of the purchase scheme.
Business confidence falls significantly
Four in ten businesses anticipate a fall in profits over the next year.
Two-year mortgage rates reach 14-year high
The average two-year fixed mortgage rate soars to 6.07%.
Pound reaches two-week high
Sterling on track for its sixth consecutive daily rise.
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