Yesterday's October employment report showed that core wages, not including bonuses, rose at their fastest level for twenty years.

Despite the pace of the increase, real wages fell at a record rate as they still failed to keep pace with inflation.

Prime Minister, Rishi Sunak, speaking at the G20 gathering of world leaders in Bali, urged bosses to curb their pay, which, while it would not have any material effect on overall wage inflation, would show a degree of solidarity with employees.

Sunak went on to be critical of nurses' demands for a double-digit pay award which, if not met, could see nurses take strike action for the first time in history. He feels that the demand for seventeen percent is both unrealistic and unaffordable and will simply contribute to a wage spiral, evidence of which is already beginning to manifest itself in the data.

In the recent past, the demands of supermarkets have seen the price of milk to farmers tumble, which the retailers themselves have been accused of profiteering. Now it is egg producers who are under pressure due to the dual demands placed on the industry and the rise of avian flu, which is seeing entire flocks slaughtered.