In the News
Are we still worse off than in 2008?
18th September 2019
The latest New Economics Foundation research offers an interesting take on the standard of living in the UK. It says that contrary to official statistics, the average Briton is still worse off in real terms than they were a decade ago.
It argues that the GDP deflator is a narrower measure of inflation than the CPI and thus it overlooks things such as housing costs and so forth, understating the impact of inflation on real incomes. As a result, it says we've overstated the extent of the post-financial crisis recovery.
Despite this potential for rising inflation in the future, low inflation now is helping boost real wages – and provide welcome increases in households’ incomes. pic.twitter.com/F7PPPAPhun
— ResolutionFoundation (@resfoundation) September 18, 2019
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