FX.co ★ UK Total Pay Growth Eases as Estimated

Total average weekly earnings in the UK, including bonuses, increased by 3.9% year-on-year to GBP 756 in the three months to July 2026. This was down from 4.2% in the previous three-month period and in line with market expectations. It also represented the slowest annual pace of growth since the three months to February.

The moderation in pay was driven by the private sector, where wage growth slowed to 3.2% from 3.7%, the weakest rate since the three months to December 2020. In contrast, public-sector pay growth accelerated to 6.6% from 6.2%, its fastest increase since the three months to December 2025.

After adjusting for inflation, total earnings rose by 0.9%, compared with 1.2% in both the three months to June and the three months to May. This marked the softest real wage growth since the three months to February.