FX.co ★ UK Wage Growth Lowest in Nearly 3 Years

In the three months leading up to May 2025, regular pay in the UK, excluding bonuses, increased 5% year-on-year to GBP 677 per week. This represents the slowest growth in nearly three years, following an upward revision to a 5.3% increase in the prior period, and slightly exceeding the forecast of 4.9%. Wage growth decelerated in both the private sector (4.9% down from 5.2%) and the public sector (5.5% down from 5.6%). Across various industries, the most significant annual wage growth occurred in wholesale, retail, hotels, and restaurants at 7.1%, followed by a 6% increase in services, 4.9% in construction, 4.8% in manufacturing, and 3.1% in finance and business services. When adjusted for inflation, real wages experienced a growth of 1.1%.