Bumper UK pay rises could be a thing of the past as inflation eases

Office workers and commuters walking through Canary Wharf in London. The pay boom in the financial services sector over the past two years could be coming to an end. Photograph: Victoria Jones/PA

Workers in the UK achieved a fifth month of inflation-busting wage rises in October, but bumper pay rises could be a thing of the past, according to the Office for National Statistics.

The average wage increase without bonuses was 7.3% in October, down from 7.8% in the latest ONS data.