Wages in the UK rose by 5.6% in the first quarter of 2025 compared to the same period last year, according to data released today by the Office for National Statistics. The figure, which
excludes bonuses, came in just below the 5.7% increase forecasted by economists in a Reuters poll.
The Bank of England is keeping a close eye on wage growth and other signs of inflationary pressure in the labour market as it weighs whether to accelerate its planned interest rate cuts.