Market News
UK pay rises fall back in line with inflation, Brightmine says - REUTERS
LONDON, March 19 (Reuters) - Pay increases granted by British employers have fallen back in line with inflation for the first time since October 2023, according to data from human resources data firm Brightmine that is likely to be welcomed by the Bank of England.
Brightmine said employers were cautious before April's rise in payroll taxes and the median pay award in the three months to the end of February held at 3% for the third consecutive rolling quarter, the joint lowest pace of increase since December 2021.