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Wage deals increase

WAGES in the UK accelerated significantly at the beginning of this year, according to a survey that may raise concerns at the Bank of England that above-target inflation will become entrenched.

Figures show the median pay award jumped to 2.8pc in the three months to January from 2.2pc in the three months to December. The figure was the highest reading in just over two years but little more than half the rate of retail price inflation.