UK wage growth slowdown adds to inflation squeeze on households

Employment increased in January as younger employees returned to workplace, says ONS

UK wage growth slowed in the three months to January, despite inflation staying stubbornly high, prolonging the cost of living crisis affecting millions of households.

Wages growth fell to 5.7% from a revised 6% in December to leave the average pay rise 3.2% below the rate of inflation, the Office for National Statistics (ONS) said.