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The increasing gap between pay and spending power is making people £68 a month worse off
04/01/2012
The gap between consumer spending power and wages remains painfully high. The average worker has received a £40 pay cut over the past 12 months and is now £68 per month worse off than in 2009.
The annual rise in take home wages for people in FTSE 350 companies is currently at 2.5% The rate of inflation, according to the CPI in October , is at 5%. As the gap in CPI verses salary inflation continues to exist so households will continue to be worse and worse off over time.
Homeowners aged over 55 years who have been affected by the downturn in the economy and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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