The rate of UK pay growth is increasing while inflation slows

Consumer price inflation

Regular average weekly earnings

12%

May 2023

8.7%

8

7.3%

4

0

-4

2014

2016

2018

2020

2022

Consumer price inflation

Regular average weekly earnings

12%

May 2023

8.7%

8

7.3%

4

0

-4

2014

2016

2018

2020

2022

Guardian graphic. Source: ONS. Note: average weekly earnings annual growth rates - regular pay, excluding bonuses