Wages in the UK continued to surge at a record pace and have not been outstripped by inflation for the first time in nearly two years, according to official figures.
The Office for National Statistics said average regular weekly earnings growth remained at a record high of 7.8% in the three months to July, matching Consumer Prices Index inflation for the first time since October 2021. Total pay including bonuses jumped by 8.5%, meaning that it exceeded inflation for the first time since March 2022, up 0.6% with CPI taken into account.▪️ employment was 75.5%▪️ unemployment was 4.3%▪️ economic inactivity was 21.1%