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UK Employers Plan Smaller Pay Rises in 2023 Amidst Easing Inflation Pressures

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UK employers plan smaller pay rises in 2023 as inflation eases. This reflects a shift in the labor market and may lead to lower interest rates. A survey by CIPD shows that average pay increases are expected to be 4% for the next 12 months, down from 5% in previous years. This could have implications for the economy and requires employers to adjust their strategies for long-term stability.

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