Wage Growth Edges Up to 3.5%, Raising Inflation Fears

UK wage growth has edged up to 3.5% in the second quarter, exceeding economists' expectations and adding to inflation signals being tracked by policymakers.

The Bank of England is closely monitoring this data amid concerns about persistent domestic inflation pressure.

According to Reuters, UK annual wage growth excluding bonuses reached 3.5% in Q2, slightly above the 3.4% pace mostly expected by economists polled by Reuters.