Costa Coffee, a subsidiary of Coca-Cola, announced a 5% wage increase for over 15,000 hourly workers starting April 1. This increase surpasses the current UK inflation rate of 2.5% and partially reflects the government's rise in the national minimum wage. The Bank of England, which recently cut interest rates by 25 basis points, is closely monitoring wage trends in the UK to determine future rate actions.
Costa Coffee will raise its minimum wage from £12 to £12.60 per hour, equivalent to $15.87 or ¥115.7. This new wage standard comes before the UK government's planned 6.7% increase in the national minimum wage for most adults, which will raise it to £12.21 per hour starting in April.
