Working people will be £6,000 worse off after five years of the coalition, Labour claimed.

Chris Leslie, the shadow financial secretary, said David Cameron has presided over almost three years in total of falling wages and rising prices which had caused a longer period of squeezed living standards than under any other prime minister.

After analysing figures from the Office of National Statistics, Labour found working people are £1,350 a year poorer since Cameron entered Downing Street.

By the time of the next election, people will be £1,520 a year worse off in real terms, according to forecasts by the Office for Budget Responsibility. The fall in people's standard of living has been fuelled because prices have been rising faster than wages for 36 out of the last 37 months. James Callaghan is the only other PM to have overseen more than a year of falling wages, Labour said.

Leslie, MP for Nottingham East, said Cameron would "go down in history as a disastrous prime minister for people's living standards". "By 2015, official forecasts show working people will have lost an average of £6,660 under five years of the Tories," he said.