UK wage growth slows unexpectedly in April

UK wage growth fell short of expectations in April, raising further doubts over whether the Bank of England will raise interest rates this summer.

The Office for National Statistics reported that average total wages grew by 2.5 per cent year-on-year in the three months to April, down from the 2.6 per cent rate in the same period to March.

Wage growth excluding bonuses, the measure the Bank of England tends to watch closely, slipped to 2.8 per cent, down from 2.9 per cent previously.

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