CII, IDS data suggest wage inflation at tipping point

Incomes Date Services, says its most recent quarterly data show 60% of wage settlements across the country so far this year have included increases of between 3% to 3.9%. Higher minimum wages are pushing up incomes at the lower end of the income scale, while the booming building and construction sector is also pushing incomes higher. IDS says the interesting point is that overall wage inflation remains checked at only about 0.5% higher than all-items RPI – currently at 2.5% - despite “virtually full employment across much of the UK”. However, other evidence suggests wage inflation ...