Workers suffering double whammy of rising prices and stagnating wages

date: 19 March 2013

embargo: For immediate release

Commenting on the latest inflation figures published today (Tuesday) by the Office for National Statistics, TUC General Secretary Frances O'Grady said:

'Workers are suffering a double whammy of rising prices and stagnating wages.

'Ministers once reassured us that the recovery would be on track by now. Instead the squeeze on people's pay is getting even tighter.

'A boost to living standards is urgently needed in tomorrow's Budget, particularly with yet more welfare cuts due to kick in next month.'

Recent TUC research found that a worker on a median salary of £25,000 has lost £4,000 since December 2009, when earnings growth first fell behind rising prices. Median workers are set to lose a further £2,000 before real wage growth is forecast to return in 2014.

NOTES TO EDITORS:

- The ONS figures are available at www.ons.gov.uk/ons/dcp171778_303411.pdf

- TUC research on real wage falls is available at www.tuc.org.uk/economy/tuc-21819-f0.cfm

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk