Wage growth eases again in boost for rate cut hopes
Wage growth eased in line with expectations, new figures show, helping to pave the way for further interest rate cuts this year.
According to the Office for National Statistics (ONS), pay growth excluding bonuses eased to 4.9 per cent in the three months to August, down from 5.1 per cent previously.
This was in line with expectations and the slowest rate of pay growth since June 2022.
Including bonuses, annual wage growth fell to 3.8 per cent, down from 4.0 per cent and slightly ahead of the 3.7 per cent expected by economists.