You know. I’m Swiss, so a lot of this inflation is very evident to me.
In 2022, 1 CHF was around 0.8GBP. Now, in 2023, 1 CHF is around 0.9GBP.
Guess what, that 8% pay rise was lower than inflation. 8% on top of 0.8 is only 0.864.
Without any more pay in Switzerland, I got an effective raise higher than these ‘great’ 8% in GB
BowserDelta@lemmy.world 10 months ago
My problem here isn’t about real terms (which you might notice I didn’t even say). It’s about the fact that in a cost of living crisis this article even exists. It’s incredibly tone deaf and feels very much like a “ooh look at the shiny” slight of hand. “Things can’t be that bad, look wages are growing!” Does that sound like an accurate assessment of the economic situation here right now?
Yes, wages have grown - that’s great but it’s not particularly relevant when a lot of people are reliant on food banks to eat. Including those who have had an 8% pay rise.
Having more money is great, but only when you can actually get more with it.
13esq@lemmy.world 10 months ago
I may be wrong but I believe the article is paraphrasing the “be modest with your payrise expectations or we’ll have inflation!” nonsense.
Like yh, that’s the problem, nothing to do with quarter trillion pumped in the the economy during COVID or Brexit.
The elite are once again trying to saddle the common man with the downfalls of the economy whilst they continue to laugh all the way to the bank.
Sorry if I got the wrong end of the stick with your comment.