Magazine
Latest Issue

The gap between inflation and wages has now closed. The Office for National Statistics released figures this week showing that inflation, as measured using the Consumer Prices Index, grew by 1.6 per cent in the year to March. The average weekly wage, comparing December 2013 to February 2014, rose by 1.7 per cent. Figures of this sort are open to interpretation. But what is clear is that money is worth more now than at any time since the crash of 2008.

There remain problems, not least the issue of weak productivity growth which, so long as it remains sluggish, will…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect