Economics
U.K. Wages Rise Most Since 2015 as End to Squeeze Nears
- Stronger wage growth, slower inflation is good for consumers
- Unemployment declines to 4.2%, lowest rate since 1975
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U.K. wages are rising at their fastest pace in almost three years, raising the prospect of an end to the squeeze on living standards.
Annual pay growth excluding bonuses accelerated to 2.8 percent in the three months through February, the Office for National Statistics said Tuesday. Inflation averaged 2.9 percent in the same period and is forecast to fall toward 2 percent this year.