Could record UK wage growth now lead to higher interest rates

If you missed this, check it out. There is actually a lot to unpack here.

You can also watch the animated version below:

Ok, firstly... WHAT? Are you kidding me? Why do I feel so poor if wages are rising?

Well apparently, UK wages are now growing at a 40-year high. It should be great, right! More money means more spending because people spend more, driving up demand and prices.

But it's not so simple

Most of us are feeling the pinch. Everything costs more because of inflation. And, most of us until recently have seen our wages decline in real terms i.e. they haven't kept up with inflation.

Ok, I don’t live in the UK, but I am British. But even in Switzerland, with its unusually low headline inflation, the cost of living has risen significantly higher (even though it was already very high).

Read on to find out why this matters.