Fall in UK wage growth reduces pressure for interest rate rise

Workers’ pay packets still increasing slowly despite fresh fall in unemployment

Pressures has eased on the Bank of England to raise interest rates after the latest official figures showed a fall in wage inflation despite a fresh drop in unemployment.

Both measures of earnings growth – including and excluding bonuses – edged lower in the three months to the end of April, according to the Office for National Statistics.

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Read the original at Economics | The Guardian.