Britain | Britain’s economy

Wage growth, inflation and more place Britain’s central bank in a spot

Britons brace for pricier mortgages

A woman with red hair and wearing a pink dress walks and talks on her phone in the City of London.
Young Lady of Threadneedle StreetImage: Getty Images

PARTS OF Britain are growing uncomfortably hot. On June 13th the Met Office, a weather monitoring outfit, gave warning that large swathes of the country were officially in a heatwave. Data published the same day by the Office for National Statistics (ONS), keeper of other sorts of official figures, suggest that the labour market swelters, too: private-sector wages, excluding bonuses, were 7.6% higher than a year before. That was one of the fastest rates of growth of the past two decades—just shy of a headline inflation rate, including housing costs, of 7.8% in April.

This article appeared in the Britain section of the print edition under the headline “Growing hot and sticky”

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