BoE under pressure from 7.2% wages jump as inflation swallows increase for employees

This was the largest growth rate seen outside of the coronavirus pandemic. Meanwhile growth in average total pay, including bonuses, was 6.5%. However in real terms (adjusted for inflation), growth in total and basic pay fell on the year in February to April, by 2% for total pay and by 1.3% for basic pay. US business confidence in the UK falls for third consecutive year Rosie Hooper, chartered financial planner at Quilter, said: "The latest ONS data show that wages continue to rise, but despite this workers are still 2% worse off in real terms due to persistently high inflation ...