British workers are getting substantial pay raises, despite desperate pleas from the government and the Bank of England, both of which blame high wage growth in part for the country’s inflation problem. U.K. wages excluding bonuses grew by 7.3% in the three months to May, when compared to the same period last year, the Office for National Statistics revealed on Tuesday. Both Bank of England Governor Andrew Bailey and U.K. Finance Minister Jeremy Hunt on Monday told an audience in the City of London that high wage settlements were harming their efforts to contain inflation. U.K. headline consumer price inflation hit ... (full story)