RISHI Sunak insists there is “light at the end of the tunnel” as wage growth hits a record high – with inflation forecast to cool.
The Prime Minister has vowed he will “stick to the plan”, despite pay growth putting pressure on the Bank of England to raise interest rates.
Salary rises reached a record 7.8 per cent in the three months to June and by 8.2 per cent when bonuses are taken into account.
Experts expect a fall in inflation today to around 6.7 per cent for July – which is down from 7.9 per cent for the month before.
Hard-working Brits will soon see the benefits of salaries rising faster than prices, the PM says.