FX.co ★ UK Regular Pay Growth Holds at 3.5%

In the three months to July 2026, UK regular pay excluding bonuses rose 3.5% year-on-year to GBP 705 per week, matching the pace of the previous period and aligning with market expectations. This remained the fastest annual increase since the three months to February.

Public sector pay growth edged up to 6.3% from 6.2%, its strongest rate since the three months to December 2025. By contrast, private sector wage growth was unchanged at 2.9%, still the slowest pace since the three months to October 2020.

By industry, pay increased in wholesale, retail, hotels and restaurants (3.1%), manufacturing (2.9%), services (3.8%), finance and business services (2.7%), and construction (0.3%).

After adjusting for inflation, real regular pay rose 0.6%, the same as in the previous period, marking the strongest real wage growth since the three months to November 2025.