Wage Growth Outstrips Consumer Price Index Amid Drop in Employment

Chancellor Jeremy Hunt wrote on X, ’the only way we can keep real wages rising sustainably is by halving inflation this year, we must stick to the plan.’

The City of London financial district can be seen as people walk along the south side of the River Thames, in London, on March 19, 2021. Henry Nicholls/Reuters

Wage growth in the UK has outpaced the rate of inflation, while the unemployment and economic inactivity rates have increased.

Official figures, released on Tuesday, showed that regular pay in Britain, excluding bonuses, was 7.8 percent in May to July. It is the same rate as the previous three-month period.