Wage growth has remained strong, the latest official figures show, as the Bank of England mulls its interest rate decision.
Wages – excluding bonuses – grew 5.9% in the three months to January, the same amount as a month earlier, data from the Office for National Statistics (ONS) showed.
Meanwhile, growth in average weekly earnings, including bonuses, fell to a surprise 5.8%. Economists polled by the Reuters news agency anticipated a 5.9% increase.
It means wage growth is still high and well above the rate of overall price rises. Inflation stood at 2.5% in January.
It comes as the Bank of England is widely expected to hold interest rates at its meeting today, in part because of the inflationary impact of wage growth.
Wage increases have surpassed the level of inflation since July 2023.
Both private and public sectors have seen rises, the ONS said, describing the growth as “strong”.
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