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Pay rising faster than inflation as Bank warns on growth

Average earnings are rising faster than the rate of inflation after years of falling living standards, new figures show.

The Office for National Statistics data came as Mark Carney, the Governor of the Bank of England (BoE) said inflation is more than likely to fall below 1%, and economic growth will be slower than previously expected.

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BoE: Economic growth will be slower than expected

Mark Carney, the Governor of the Bank of England (BoE) has said that inflation is more than likely to fall below 1% over the next six months. Its growth expectations for next year have been cut from 3% to 2.9%.

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