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Inflation Forecast to Outstrip Income for Two Years
07/04/2011
It was recently reported in the National Press that the cost of living continues to fall as wage inflation rises at a significantly lower rate to price inflation. It was published that earning growth is unlikely to catch up with the retail price index (RPI) as a measure of inflation, until 2013.
Average earnings this year is expected to increase by 2%, whilst the RPI will remain at 5.1%. Next year earnings are expected to raise to 2.2% and RPI growth to slow to 3.6%.
Figures revealed last night that families are facing a relentless squeeze in living standards as increases in income are outstripped by inflation for another two years.
That means families face real-terms wages falls and a drop in living standards.
Homeowners aged over 55 years who are concerned about inflation and would like to know how much money the value of their property could release to help increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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