Wages still failing to keep up with rising prices

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Rises in regular pay are still failing to keep up with the rising cost of living, latest official figures show.

Wages rose at an annual pace of 5.2% between May and July but they were outpaced by soaring prices, according to the Office for National Statistics.

Inflation - a measure of price rises - remains at a 40 year high of 10.1% meaning the "real value" of pay is falling.

The latest inflation figure, due out on Wednesday, is forecast to be higher.

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