Typical disposable incomes for working-age family households are on track to fall by 3% in this financial year, and by 4% in the year to April 2024, according to the Resolution Foundation.
Only incomes of the very richestwill rise, according to the thinktank’s annual Living Standards Outlook for 2023, while middle-income households will struggle to make ends meet after an average £2,100 loss.
The warning comes amid a rash of strikes by workers demanding pay rises closer to the average inflation rate of 10.7%.
A vote by teachers is expected to back strike action when the ballot results are announced over the next fortnight, adding more than 500,000 public sector workers to a tally that includes nurses, Whitehall civil servants and Border Force staff.
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