UK wage growth picks up to ease squeeze on living standards

Official figures are suggesting that the squeeze on dwelling requirements in Britain since final yr’s Brexit vote is abating.

The Workplace for Nationwide Statistics stated Wednesday that common weekly earnings, together with bonuses, elevated by 2.1 % within the three months to June towards the identical interval the earlier yr. That was forward of market expectations for a 1.eight % rise. Excluding bonuses, the rise was the identical, and forward of expectations of two %.

In mild of Tuesday’s information that inflation held regular at 2.6 % in July, the earnings figures recommend pay packets have barely extra buying energy.

The hole between inflation and earnings has elevated since final yr’s vote to go away to the European Union as the following fall within the pound stoked inflation by elevating import prices.

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