Regular pay excluding bonuses in the UK rose 4.8% year-on-year to GBP 680 per week in the three months to July 2025, the least since May 2022, compared to a 5% increase in each of the previous two months, and in line with market expectations. A slowdown in wage growth was seen for both the public (5.6% vs 5.7%) and the private (4.7% vs 4.8%) sectors. By industry, the fastest annual increases were recorded for wholesale, retail, hotels, and restaurants (6.4%), followed by services (4.9%), manufacturing (4.5%), construction (3.9%), and finance and business services (3%). Adjusted for inflation, real wages rose 0.7%.