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Meaning of “real wages” in the English Dictionary

"real wages" in Business English

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real wagesnoun [plural]

uk   us   (also real income [C or U])
ECONOMICS the ​value of ​moneyearned by ​workers in an ​economy at a particular ​time, after taking into ​account the ​effect of ​inflation on what can be ​bought with that ​money: A ​decrease in ​realwages and ​disposableincomesmeans that mortgage-payers are really suffering from recent ​interestraterises. Real ​wages have ​fallen behind ​inflation, and the ​incomegap between ​rich and ​poor continues to widen.
(Definition of real wages from the Cambridge Business English Dictionary © Cambridge University Press)
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