(bank of England expects the cost of living crisis to subside as real incomes rise] the Bank of England expects Britons to become richer this year as falling inflation and rising wages push up real incomes. The Bank of England's monetary policy committee said in its February forecast that real household income would stagnate by 2024, given the rising cost of living. But the bank's latest outlook shows that real household income is expected to grow by 1 per cent this year and by 1 per cent in 2024 and 2025. Although the figure for 2024 is slightly lower than the 1.5 per cent previously forecast, the figure for 2025 is higher than the previous 0.75 per cent. These figures will ease households facing a sharp rise in mortgage costs at the end of the fixed-rate maturity of their loans. But BoE officials are also sensitive to signs that real wages are rising too fast, which could exacerbate inflationary pressures. The rise in income is partly due to falling energy prices. Another factor is the persistently lower-than-expected unemployment rate, as the recession that forecasters predicted three months ago has not yet occurred.