The combined salary bill of the division's clubs jumped eight percent to £1.78billion, with champions Manchester City heading the pack with a £233million wage bill.
It is the first time the wages-to-revenue ratio has hit 71 percent.
Deloitte analyst Adam Bull said: "The 70 percent mark is often used as a guide of good practice and above that you will usually need some sort of external funding, probably from the owner, to meet those costs.
"In the other big four leagues the ratio has reduced, and a lot of people are pointing to UEFA's financial fair play rules for helping bringing in cost control."
By contrast, the top-tier leagues in Spain, German, Italy and France all showed a reduction in their wages-to-revenue ratio.
La Liga's is 56 percent, the lowest since 2000; Germany's is down to 51 percent; Italy's has dropped from 74 to 71 percent, while France is down eight points to 66 percent.