The latest figures released by the Office for National Statistics (ONS) have revealed that wage growth in the UK has once again slowed down. Despite this, experts believe that the Bank of England (BoE) is likely to remain on high alert in order to monitor the situation closely.
According to the ONS, average weekly earnings, including bonuses, increased by just 3.4% for the three months to March. This represents a drop from the previous rate of 3.5% growth, recorded for the three months to February. When bonuses are excluded, the growth rate stands at 3.3%. These figures indicate a further decline in wage growth, which has been a recurring theme in recent months.
