UK State Pension to Exceed £13,000 Annually as Wage Growth Decelerates to 3.9%
Source Summary
UK wage growth slowed to 3.9% in the three months to July, down from 4.1% in June, according to Office for National Statistics data. Workers face renewed cost-of-living pressure linked to the Iran war as the Bank of England prepares its interest rate decision.
Why it matters
Slowing wage growth amid renewed inflation pressures complicates the Bank of England's monetary policy decisions as it weighs interest rate adjustments.
