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MOSCOW, 18 Apr. UK real incomes continue their fastest fall in ten years amid disproportionate inflation of wage increases, reported on Tuesday by the UK Office for National Statistics (NSRO).
By February 2023, adjusted for inflation, the real average weekly income of the population fell by 3% for wages with bonuses and by 2.3% percent for «naked» salaries compared to December 2022. This is the biggest drop in real average weekly incomes since 2009, when they fell by 4.5% between February and April, according to the NSER.
In the same period from December 2022 to February 2023, the nominal average weekly income of the population increased by 6.6% for “naked” salaries and by 5.9% for salaries with bonuses. The fall in real incomes of the population despite the increase in wages indicates a serious inflation rate in the country, the report says.
The statistical service added that in February, due to large-scale strikes, 348,000 working days were lost (the total number of work shifts missed by strike participants), two-thirds of which were teachers' strikes. It is noted that compared to the previous reporting period from September to November 2022, the total number of hours worked, despite strikes, increased, but still lags the pre-covid figures.
The UK is seeing a wave of strikes amid a record inflation in the country. Railroad employees, lawyers, airport employees, postmen and workers in other areas come out to protest. After the start of the special operation of the Russian Federation in Ukraine, the West increased sanctions pressure on Russia. The disruption of supply chains has driven up fuel and food prices in Europe and the US. In the UK, the rising cost of living has hit millions of households.