Author: Geoffrey Smith

Wages across the U.K. grew at their slowest pace in over two years in the three months through June, in the latest sign that one of the biggest local drivers of inflation is easing. Average wages including bonuses rose by 4.5 percent from a year earlier, according to data published today by the Office for National Statistics. That was down from 5.7 percent in the three months through May. Coupled with another sharp rise in the number of those claiming unemployment benefits in July, the numbers add to evidence of a cooling labor market in Britain and may make it…