The acceleration in wage growth in September was driven by volatile bonus payments whereas growth in base pay slowed rather sharply. The final reading may yet show stronger growth in regular earnings but the key point is that wages would have to rise much faster to generate 2% inflation.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services