UK: Inflation worried employees likely to see pay rise

London: In Britain, employees worried about rising inflation are expected to see a big increase in their salaries.

According to the details, the UK businessmen have planned to increase the salaries of the employees so that they can achieve their desired goals, in this regard, the Chartered Institute of Personnel and Development (CIPD) said in its quarterly survey report. Employers expect base pay rates for employees to increase by an average of 4 percent over the coming year, and up to 5 percent in the private sector.

In this regard, CIPD Labor Market Economist Jon Boyes said that this time the salary increase is expected to be the highest that has not been seen in the last ten years. Instead of benefiting from higher salaries, they will also have to face salary cuts.

According to the news, concern is being expressed by the Bank of England on these figures, officials fear that inflation may increase further, which has already reached a 40-year high of 10.1 percent.

The CIPD said in its report that job vacancies in the UK are high and almost 70% of businesses intend to hire more employees in the next quarter.

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