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MNI BRIEF: UK Earnings Growth Slows, But BOE Still On Watch

Earnings slow helped by base effects, but still at levels uncomfortable for BOE.

MNI (LONDON) - UK earnings growth slowed again in the three months to June, but regular pay levels are still sitting at levels uncomfortable for the Bank of England.

Average regular earnings (ex-bonuses) was 5.4% in the latest period, the Office for National Statistics said Wednesday, noting that growth was last
lower than this in May to July 2022, when it was 5.2%. Annual growth in total earnings was 4.5%, lower as it was affected by comparing with a period including June 2023 when the NHS one-off bonuses were paid.

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MNI (LONDON) - UK earnings growth slowed again in the three months to June, but regular pay levels are still sitting at levels uncomfortable for the Bank of England.

Average regular earnings (ex-bonuses) was 5.4% in the latest period, the Office for National Statistics said Wednesday, noting that growth was last
lower than this in May to July 2022, when it was 5.2%. Annual growth in total earnings was 4.5%, lower as it was affected by comparing with a period including June 2023 when the NHS one-off bonuses were paid.

Keep reading...Show less