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FX.co ★ UK Total Pay Growth Below Expectations

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typeContent_19130:::2026-07-21T06:22:55

UK Total Pay Growth Below Expectations

In the three months to May 2026, total average weekly earnings in the UK, including bonuses, rose 4.3% year-on-year to GBP 749. This was down slightly from 4.4% in the previous two three-month periods and came in below market expectations of 4.5%. It was also the slowest pace of growth since the three months to February.

By sector, private sector wage growth eased to 4.0% from 4.2%, while public sector pay growth accelerated to 5.5% from 5.2%, marking its fastest increase since the three months to January.

Adjusted for inflation, total earnings rose 1.1%, just below the 1.2% real-terms increase recorded in the three months to April.

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