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The Telegraph
The Telegraph
14 Nov 2023


Wages grow faster than inflation after civil service pay deal - latest updates

Wages grew at a faster pace than inflation in the three months to September, official figures show, in a blow to hopes of interest rate cuts.

Average total pay including bonuses stood at 7.9pc during the period, well ahead of inflation which stood at 6.7pc, according to the Office for National Statistics.

It means that pay grew in real terms by 1.4pc after taking inflation into account.

Wages remained robust as the figures were affected by one-pff payments to the civil service in July and August.

However, wages have fallen from the fastest pace set in the three months ending in July, at a rate of 8.5pc.

The persistent pay growth will raise concerns at the Bank of England that higher pay could fuel inflation, meaning that interest rates would have to remain higher for longer.

The rate of UK unemployment remained unchanged at 4.2pc in the three months to September.

Read the latest updates below.