LONDON (Reuters) -Growth in British average weekly earnings, excluding bonuses, slowed slightly to 4.7% in the three months to August compared with a year earlier, the Office for National Statistics said on Tuesday.
Economists polled by Reuters had mostly expected regular annual wage growth of 4.7% for the June-August period, slightly weaker than an increase of 4.8% in the three months to July.
The Bank of England is monitoring inflation pressures in Britain’s economy, including wage growth. BoE officials held interest rates at 4% last month, and investors are fully pricing another BoE rate cut only in April 2026, according to LSEG data.
(Reporting by Suban Abdulla; editing by Sarah Young)
Comments