British employers are planning the biggest pay hikes in a decade to fill roles but real-term wages will still grow more slowly than inflation, a survey showed on Monday.
The quarterly survey by the Chartered Institute of Personnel and Development found employers expect to raise their basic pay rates by 4% on average over the coming year, and by as much as 5% in the private sector - the largest since the CIPD's records started in 2012.
The figures add to concerns from the Bank of England about an overheating labour market and historically rapid wage gains, which many of its officials fear could fuel further inflation that currently stands at a 40-year high of 10.1%. Hiring intentions were the strongest in the public sector with 80% of respondents planning to recruit. That stood at 74% in the voluntary sector and 66% in the private sector.
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