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Evening Standard
Evening Standard
World
Jonathan Prynn

Fast-rising wages stoke fears of more interest rate hikes for home owners

Office for National Statistics

Wages were on Tuesday revealed to be rising faster than expected, stoking fears of further interest rate hikes that will intensify the pressure on home owners.

The Office for National Statistics said regular wages, not including bonuses, surged 7.2 per cent in the three months to April, the quickest rate of increase yet recorded outside the pandemic years. Private-sector wages rose at 7.6 per cent with the financial services sector leading the way with 9.2 per cent.

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