The growth in wages eased in the three months to September as vacancies fell, in signs the Bank of England’s inflation-busting interest rate hiking plan may be taking effect.
Regular pay (excluding bonuses) grew by 7.7% in July to September, according to data from the Office for National Statistics. This is down slightly on the previous periods, but is still among the highest annual growth rates since comparable records began in 2001. UK enters 'new phase of suspended animation' after Bank of England holds rates Employees' average total pay, including bonuses, grew 7.9% but this growth rate is affected by the Civil Service one-off payments made in July and August 2023. Adjusted for CPI inflation and including owner occupier's housing costs, annual ...
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