UK data shows continued strong wage growth

Reuters with the info, on a survey covering wage negotiations:

• data based on 145 pay settlements covering 370,000 employees
• employers offered
  average annual pay settlements of 4.9% in the three months to
  June, unchanged from the previous month

The implication:

• strong wage growth that may sustain the
  Bank of England’s inflation worries

More here:

• Official data showed average weekly earnings in the three months to June were 5.7% higher than a year earlier, almost double the increase most BoE policymakers view as compatible with consumer price inflation staying at its 2% target.

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The Bank of England meet on August 1.

This article was written by Eamonn Sheridan at www.forexlive.com.