Sky News
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Interest rate forecasts spike as UK basic wage growth hits record high
Posted
August 15, 2023
Views
17,887
Likes
36
Comments
46
Engagement
0.46%
August 15, 2023
17,887
36
46
0.46%
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1:55Now PlayingONS figures show annual growth in regular pay, excluding bonuses, was 7.8% in the three months to the end of June. This is the highest rate seen since records began in 2001.
Inflation for June was 7.9% - meaning the two are now almost on a par.
Latest figures will pile pressure on the Bank to continue its rate rising programme, making borrowing more expensive as a result.
#costofliving #inflation #skynews
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