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Biggest squeeze in living standards for a century as millions more face absolute poverty, think tank warns

Inflation to put three million more in poverty, warns Resolution Foundation

Anna Isaac,Andrew Woodcock
Thursday 01 September 2022 00:04 BST
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Britain faces the “terrifying” prospect of the biggest squeeze in living standards for a century, a new report has warned.

An “unprecedented two-decade-long wage depression” looms as roaring inflation will wipe out years of anaemic wage growth by the middle of next year, the Resolution Foundation think tank predicts.

Meanwhile, three million more Britons could be thrust into absolute poverty without further government intervention to combat rocketing living costs.

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