Brexit Batters Wages

The Office of National Statistics in the United Kingdom has revealed that real wages are declining post-Brexit. 

In the three months to March, average wages grew at a rate of 2.4%. While this was slightly higher than inflation, which grew by 2.3%, prices in the U.K. rose 2.7% meaning that wages adjusted for inflation will be negative for he first time since 2014.

The increase in inflation reflects the impact that Brexit has had in the U.K., with the pound falling 13% against the dollar since June 2016

This article was written by a staff member of TheStreet.