ONS: Private sector wages grow faster than expected

The latest figures from the Office for National Statistics show growth in total pay fell 3.1% when adjusted for inflation.

Workers walking through the City of London
(Image credit: © Getty Images)

In some slightly positive news for the economy, UK wages accelerated at their fastest rate ever outside of the pandemic in the last quarter of 2022, according to the latest figures from the Office for National Statistics (ONS).

Growth in average total pay, including bonuses, was 5.9% and growth in regular pay, excluding bonuses, was 6.7% in the three months from October to December 2022.

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Nic studied for a BA in journalism at Cardiff University, and has an MA in magazine journalism from City University. She has previously worked for MoneyWeek.