UK data shows continued strong wage growth

Reuters with the info, on a survey covering wage negotiations:

data based on 145 pay settlements covering 370,000 employeesemployers offered
average annual pay settlements of 4.9% in the three months to
June, unchanged from the previous month

The implication:

strong wage growth that may sustain the
Bank of England’s inflation worries

More here:

Official data showed average weekly earnings in the three months to June were 5.7% higher than a year earlier, almost double the increase most BoE policymakers view as compatible with consumer price inflation staying at its 2% target.

—

The Bank of England meet on August 1.

This article was written by Eamonn Sheridan at www.forexlive.com.