Strong income growth puts pressure on BoE to raise interest rates

ONS data shows real household disposable income rose at annual rate of 3.7% in second quarter of this year

Pressure is mounting on the Bank of England to raise interest rates after official figures showed household disposable incomes - a key measure of living standards - rising at their fastest rate in five years.

Figures from the Office for National Statistics showed that real household disposable income, which measures spending power after inflation, tax and state benefits have been taken into account, rose at an annual rate of 3.7% in the second quarter of 2015.