Wages have increased at a record rate amid fears that inflation could remain stubbornly high and result in further interest rate rises by the Bank of England.The Office for National Statistics (ONS) revealed that average regular pay, not including bonuses, was 7.3% higher in the three months to May compared with the same period last year.

Wages have increased at a record rate amid fears that inflation could remain stubbornly high and result in further interest rate rises by the Bank of England.The Office for National Statistics (ONS) revealed that average regular pay, not including bonuses, was 7.3% higher in the three months to May compared with the same period last year.