The UK wage growth slowed in the three months to August, signaling cooling labor market conditions and strengthened expectations that the Bank of England is unlikely to raise interest rates again to withstand wage-driven inflationary pressures.
Average earnings excluding bonuses grew 7.8 percent in the three months to August, data from the Office for National Statistics showed on Tuesday. The annual rate came in line with expectations, but was slower than the 7.9 percent increase seen in the July quarter. Nonetheless, this was one of the highest annual growth rates since comparable records began in 2001.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.