WORKERS are facing a “perfect cost-of-living storm,” trade unionists warned today after the latest inflation figures revealed how much wages are losing their value.

The figures from the government’s Office for National Statistics (ONS) show that real wages fell by 1.2 per cent in December last year, the largest fall in eight years.

The Bank of England has forecast that workers on average will be £50 a month worse off in 2022 as prices continue to rise.