Living standards in UK fall for the first time since 2014

Despite another fall in unemployment and a rise in vacancies, inflation outstripped pay growth in February

Rising prices and stagnant wage growth have resulted in the first fall in living standards in two-and-a-half years, according to official figures.

Labour market data from the Office for National Statistics showed that regular pay in the UK in February was 1.9% higher than a year earlier and is running below the 2.3% increase in prices.

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