According to official statistics, pay increased 4.9% between June and August, compared to 5.1% previously.
The numbers support the widely held belief that when the Bank of England meets next month, interest rates in the UK may be lowered to 4.75%.
Although pay is still increasing more quickly than inflation, which gauges the pace of price increases, economists do not anticipate that this will cause the Bank to postpone its plans to reduce interest rates.
The Bank of England keeps a careful eye on wage growth. Businesses may boost the price of their goods to offset increased costs resulting from overly rapid pay increases.
