UK pay growth slows as Iran war prompts cost of living squeeze

Unemployment rate remained at 4.9% in the three months to the end of June, ONS figures show Wage growth in the UK slowed in June as workers come under pressure from a renewed cost of living squeeze amid the economic impact from the Iran war, official figures show.

Figures from the Office for National Statistics show average growth in total earnings, including bonuses, fell to 4.1% in the three months to June, down from 4.3% in the three months to May.

City economists had forecast a larger fall to 4%.

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