UK wages grew by 3.4% in first three months of 2026

LONDON, May 19 (Reuters) - ​Growth ⁠in British wages, excluding ​bonuses, stood at 3.4% in the ​first ‌three months of 2026 compared with ⁠the same period last ⁠year, according ​to official data published on Tuesday.

Economists polled by Reuters had mostly expected ​regular average ‌weekly earnings growth of 3.4%.

The Bank of England has been monitoring wage ​growth closely as it tries to ‌assess the level of inflation pressure in the economy.

A ‌surge in energy prices since the start of the Iran war ​has added a new inflation concern for ‌the central bank. However, several BoE policymakers say they believe the ⁠wage ⁠growth slowdown since early 2025 ‌is likely to continue due to ​the ​war's impact on hiring ‌by employers and on the broader economy. (Writing by William Schomberg; Editing by Sarah Young)