It is now being reported that wages have dropped more than inflation... the worst on record! FFS! Please stop all the doom mongering.
Records only go back 20 years, These reporters should have lived in the late 60s, 70s, 80s and early 90s - before records began.
Wages are always behind inflation, and always have been. Eventually they rise slowly, but incrementally, to catch up - it takes years. It was once known as 'boom and bust' and it is happening again.
Like it or not we have to live with it and cut our cloth accordingly and live within our means.
Cut out the subscription services, takeaways, mobile contracts etc. credit card purchases for this, that and the other 'must have now' tat, and live with what you have. Learn to cook and wear clothes.