From 30 October, the company’s hourly paid employees across the country will receive £10.35 ($11.69), while its London workers will receive £11.43 ($12.91).
This will be Currys‘ third pay rise in the last 13 months, representing a 15.6% increase in just over a year.
Currys said that the pay rise will benefit more than 10,000 colleagues in the UK.
The retailer has announced several other benefits for employees, including a 3-5% discount each week on shopping at major chains such as Asda, Morrisons and Sainsburys.
Employees can also receive a 10% discount on selected products in-store and online, as well as 20% off care and repair live.
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Currys chief executive Alex Baldock said: “Every day, I hear from colleagues who are feeling the impact of the rising cost of living and we’re determined to do what we can to help.
“That’s why I’m proud to announce that we’re again increasing our minimum pay rates.
“When it comes to more capable and committed colleagues, we’re putting our money where our mouth is.
“We’ve invested tens of millions over the last three years in supporting colleagues.
“Whether it’s more pay (minimum pay up 38% over the last five years in the UK), better bonus schemes, skills, new opportunities and career paths, we’ve invested.
“I’m proud of that and we’re a better business because of it.”
Last month, British multinational retailer Marks & Spencer (M&S) announced an increase in hourly pay for more than 40,000 colleagues to a minimum of £10.20.
Supermarket chain Sainsbury’s has also invested to raise the pay of its Sainsbury’s and Argos retail colleagues to £10.25 an hour for staff across the UK.