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Pay growth falls slightly to 5.8% but remains well above inflation
The Guardian
|March 21, 2025
Pay growth remained high at 5.8% in the three months to January, according to official data, as the Bank of England decided yesterday to keep interest rates elevated.
Pay growth fell slightly but remained above inflation, indicating that employers continued to offer higher pay to secure skilled workers.
The fall to 5.8%, including bonuses, was in line with the forecasts of City economists and was 3.1% higher after taking into account inflation over the quarter.
Pay growth has now been above 4% for three years, the strongest run of pay growth since the Office for National Statistics (ONS) began recording the measure in 2001.
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