On the face of it, it sounds like good news - average wages rose by almost 5% between April and June.

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But inflation has soared so high, so fast, the real value of pay packets actually fell by 3%.

Energy bills, higher food and fuel costs have pushed the UK inflation rate to a 40-year high, and tomorrow - it's expected to leap even higher.

Put simply, any wage growth has been eaten up by the skyrocketing cost of living.

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