May 15 2018, 2:00 PMMay 16 2018, 11:49 AMMay 15 2018, 2:00 PMMay 16 2018, 11:49 AM
Average UK earnings rose 2.9% in Q1, outstripping consumer-price inflation – at 2.7% – for the first time in more than 12 months, according to the Office of National Statistics. The ONS said that average weekly earnings, excluding bonuses, were up by £2.45 a week on an annual basis, compared with last year. While inflation is set to continue falling, the Bank of England warned little slack remains in the economy and increasing wages could see a corresponding jump in the cost of living.