Inflation UK wages soon to catch up with inflation, Bank of England survey finds Report indicates wages will rise above inflation in all sectors except Brexit-hit construction A survey by Bank of England agents says companies expect to increase pay by 3.1% this year. Photograph: Alamy Stock PhotoBritish workers are set for the biggest annual pay rise in a decade, according to forecasts from the Bank of England’s agents, as the rising minimum wage and staff shortages finally begin to lift wages above inflation. A total of 368 businesses responded to the survey carried out between late November and mid-January, accounting for 845,000 UK employees. The survey pointed to pay growth across the board, barring the construction sector, which is flirting with recession amid falling rates of work since the Brexit vote. Threadneedle Street has been looking for signs of pay growth in order to justify raising interest rates from the lowest level in a decade from as early as May.

Source: The Guardian February 14, 2018 12:59 UTC