UK wages grew by 3.4% in first three months of 2026
LONDON, May 19 (Reuters) – Growth in British wages, excluding bonuses, stood at 3.4% in the first three months of 2026 compared with the same period last year, according to official data published on Tuesday.
Economists polled by Reuters had mostly expected regular average weekly earnings growth of 3.4%.
The Bank of England has been monitoring wage growth closely as it tries to assess the level of inflation pressure in the economy.
A surge in energy prices since the start of the Iran war has added a new inflation concern for the central bank. However, several BoE policymakers say they believe the wage growth slowdown since early 2025 is likely to continue due to the war’s impact on hiring by employers and on the broader economy.
