Wage hike in private sector accelerates salary growth

Official data shows that wages in the UK continued to rise due to strong pay growth in the private sector.

According to the Office for National Statistics (ONS), regular wages increased by an average of 5.6% between September and November compared to the same period last year.

However, private sector income growth was stronger at 6% compared to 4.1% growth in the public sector.

Despite the risk of inflation rising due to higher wages, the Bank of England is still expected to cut interest rates next month.