UK living standards fall at record rate as inflation soars

Number of people in employment rises but cost of living crisis worsens as pay fails to keep pace with prices

Analysis: UK living standards squeeze will intensify as real pay plunges

British workers' living standards dropped in May at a record rate after pay rises failed to keep pace with inflation.

Earnings growth increased across the private and public sector by 4.3% in the three months to May excluding bonuses, the Office for National Statistics said, but that left pay down by 2.8% year on year - a record fall.