Latest UK politics news as experts warn record wage growth raises chance of interest rate hike next weekWages in the UK continued to surge at a record pace and have not been outstripped by inflation for the first time in nearly two years, according to official figures.
said average regular weekly earnings growth remained at a record high of 7.8 per cent in the three months to July, matching Consumer Prices Index inflation for the first time since October 2021.said: “Wage growth remains high, partly reflecting one-off payments to public sector workers, but for real wages to grow sustainably we must stick to our plan to halve inflation.”
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