Median pay awards have remained at 2.5% in recent months, just below inflation, marking the longest period of stability since the end of 2017, according to a new report.
A study of more than 120 wage deals suggested that pay deals have been worth less than RPI inflation since September 2016.
Analysts XpertHR said the median basic pay award in the three months August was 2.5%, unchanged since the beginning of the year.
XpertHR pay and benefits editor Sheila Attwood said: "Following some volatility in award levels during 2018, albeit never straying far from 2.5%, pay awards are now in their longest period of stability since the end of 2017.
"In the current political and economic climate, this stability is unsurprising as employers opt for a moderate, yet affordable pay rise, while holding out for a more certain outlook."
