Wages in the United Kingdom are rising at a record-high rate amid stubbornly high inflation, official figures showed on Tuesday, bolstering expectations that interest rates will increase again – to the worry of homeowners who are seeing their mortgage payments spike to levels not seen since the global financial crisis 15 years ago.

The Office for National Statistics said wages, excluding bonuses, rose by 7.3 per cent in the three months to May,

mathttps://jamaica-gleaner.com/article/business/20230713/uk-wages-rising-record-pace-higher-interest-rates-likelyching the highest rate since records began in 2001. The private sector was the main driver behind the increase.