Experts have previously told i that interest rates may be near the peak - though today's wage data suggests another hike next week is more likely
may be the the highest – or close to the highest – that they will goBut economists fear high wages can feed in to high inflation – by increasing the surplus cash people have to spend on goods and services – and that a hike in interest rates may be needed to quash this.
It is the first time since October 2021 that wages have overtaken inflation, which soared to a 40-year high of Annual growth in pay including bonuses leapt by 8.5 per cent in May to July, with earnings boosted by one-off payments to NHS and Civil Service staff.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exe Estuary protection zones proving a success for birds, say expertsBird experts say refuge zones in the Exe Estuary are helping to protect feeding and roosting birds.
Read more »
Experts warn of e-waste issues over iPhone charging port switchThe tech giant is expected to announce the new iPhone will come with a USB-C port for the first time, to fall in line with upcoming EU rules.
Read more »
Experts warn of e-waste issues over iPhone charging port switchThe tech giant is expected to announce the new iPhone will come with a USB-C port for the first time, to fall in line with upcoming EU rules.
Read more »
Experts explain why this sleeping position is 'bad for your health'Many doctors and chiropractors are in agreement that sleeping in this way is 'bad for your body'
Read more »
Record wage growth raises chance of interest rate hike next week, experts warnThe Office for National Statistics (ONS) said average regular weekly earnings growth remained at a record high of 7.8 per cent in the three months to July
Read more »
UK interest rate hikes set to end, experts predictA panel of six senior economists spoke to i about the potential for future interest rate rises as 14 consecutives hikes since 2021 have seen mortgages soar for millions of homeowners
Read more »