UK experiences worst year for living standards since 2012

LONDON: UK living standards rose at their slowest pace since 2012 in the past year, with the post-crisis recovery in incomes going into reverse for the poorest 30% of families, according to the Resolution Foundation.

Typical disposable incomes after housing costs rose just 0.9%, held back by the pound-induced surge in inflation following the 2016 Brexit referendum, the London-based think tank estimated in a report.