FX.co ★ UK Total Pay Growth Tops Estimates

Total average weekly earnings in the UK, including bonuses, increased by 3.7% year-on-year to GBP 757 in the three months to August 2026. This was a slight slowdown from the 3.9% growth recorded in the previous three-month period but came in above market expectations of 3.8%.

The latest figure represents the weakest annual pay growth since the three months to November 2020. In the private sector, pay growth eased to 3.1% from 3.3%, also the slowest pace since the three months to November 2020. Public-sector pay growth likewise moderated, slowing to 6.3% from 6.6%.

After adjusting for inflation, total real earnings rose 0.7%, down from 1.0% in the three months to July, marking the softest real wage growth since the three months to February.