UK Pay Growth Slows Amid War Induced Cost of Living Crisis The latest figures from the Office for National Statistics paint a worrisome picture of a slowing economy, where workers are increasingly feeling the pinch as the fallout from the Iran war takes its toll on living standards.
The 4. 1% average growth in total earnings, including bonuses, marks a decline from the previous quarter and underscores that even before the war's economic impact, UK pay growth had been sluggish.
Economists had forecasted an even steeper drop to 4%, but the data highlights the challenges policymakers face in tackling the cost of living crisis.