BRITS are losing £8 a day on average as wages struggle to keep pace with rampant inflation, shock analysis reveals.
It's the equivalent of two pints in the pub or a fish supper being wiped from hard-pressed workers' daily budgets.
Official ONS stats show that real annual wages plummeted by more than £1,000 in the first four months of this year.
From January to May the average salary dropped from £30,400 to £29,380- the equivalent of £8.30 per day.
Labour's shadow work and pensions secretary Jon Ashworth said rocketing prices were clobbering workers struggling to get a pay rise.
READ MORE MONEY NEWS
Your mortgage bill could jump by HUNDREDS as interest rates hit 1.75%
Urgent bank note warning as £13BILLION about to expire – do you have one?
He told The Sun: "£8 a day might seem like spare change, but it's actually a lot of money to be out of pocket every day. For many people it's the cost of their daily commute and lunch, or a fish and chips take away after work.
"The Tories' failure to tackle rising inflation means paychecks are stretched and people are left making sacrifices."
Inflation is currently running riot at a record 9.4 per cent and is on course to burst into double digits later this year.
Public sector workers were left fuming last month after receiving pay bumps of between just 4.5 and 9.3 per cent.
Wannabe PM Liz Truss says she will scrap the National Insurance hike to give workers a helping hand if she enters No10.
Most read in The Sun
Archie Battersbee's family apply to move 12-year-old to hospice to die
Love Island's Adam Collard finally breaks silence on Paige Thorne split rumour
Love Island bosses launch secret internal probe over contestant FIX row
Michael Owen drops HUGE hint he doesn’t approve of Gemma's boyfriend Luca
Rishi Sunak has trashed her plan and insists tax cuts will only surge inflation further.
A government spokesperson said: ''We’re helping households now through a £37 billion package of support – protecting eight million of the most vulnerable families with direct payments of £1,200 this year, and providing additional payments to pensioners and disabled people.
''We are also saving the typical employee over £330 a year through a tax cut in July, allowing people on Universal Credit to keep £1,000 more of what they earn and cutting fuel duty by 5p saving a typical family £100.”
Source: Read Full Article