UK wage growth picks up, raising pressure on Bank of England over inflation outlook ...Middle East

Median UK pay awards rose to 3.4% in the three months to May, up from 3.2%, driven partly by April’s minimum wage hike.

Info via Reuters, citing a survey by Incomes Data Research:

Private-sector pay deals hit 3.5%, with 19% of employers offering raises above 6%, up from 12% in April.

Bank of England monitoring closely, as wage growth remains a key inflation risk; pay pressures may challenge its forecast for slowing inflation.

This article was written by Eamonn Sheridan at www.forexlive.com.

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