Earnings growth wiped out by higher inflation

The latest average weekly earnings figures from the ONS show that pay growth in the private sector was 2.7% in the year to March, up from 2.5% in the year to February. This slightly higher rate of growth meant that the whole economy figure for average earnings rose from 2.3% in February to 2.4% in the year to March. Meanwhile, average weekly earnings in the public sector dropped back slightly from 1.4% in February to 1.2% in March.

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