FX.co ★ UK Regular Pay Growth Above Forecasts

In the UK, regular pay excluding bonuses rose by 3.7% year-on-year to GBP 707 per week in the three months to August 2026. This represented a slight acceleration from the previous period and came in above market expectations of 3.6%. It was also the fastest annual increase since the three months to January.

Private sector wage growth picked up to 3.0% from 2.9% in the previous three-month period, its strongest pace since the three months to April. Public sector pay growth was unchanged at 6.3% for a second consecutive period, remaining at its highest rate since the three months to December 2025.

By industry, annual wage growth was 3.1% in wholesale, retail, hotels and restaurants; 2.9% in manufacturing; 3.9% in services; 3.3% in finance and business services; and 1.1% in construction.

After adjusting for inflation, real regular pay increased by 0.6%, unchanged for a third consecutive period and still at its fastest rate since the three months to November 2025.