• Thursday, August 11, 2022

Business

UK Wage Growth At Its Fastest Pace Since 2008

Regular pay excluding bonuses in nominal terms increased by 3.1 per cent, ONS said. (Photo: DANIEL LEAL-OLIVAS/AFP/Getty Images).

By: Radhakrishna N S

Wage growth in the UK recorded its fastest pace in nearly a decade as wages moved up by 3.1 per cent in the three months to August this year when compared with last year. Inflation was seen at 2.5 per cent for the same period, according to official data on Tuesday (16). Regular pay excluding bonuses in nominal terms increased by 3.1 per cent; the annual growth rate has not been higher since October to December 2008, said UK’s Office for National Statistics (ONS) in a report. “Regular pay in real terms increased by 0.7 per cent; the annual growth rate…

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