Pay and prices
Pay deals’ rise stays at 2%
There’s been no overall movement in settlements in recent months.
The three-monthly median increase on lowest basic rates remained at 2.0% in February 2017, the same rise as for January and most of 2016, analysis of LRD’s Payline database of collective agreements shows.
However, RPI inflation has been rising at a greater rate — 3.2% in February and 2.6% in January — so living standards are being hit.
TUC general secretary Frances O’Grady said: “Working people across the UK are now facing the double blow of rising prices and slower wage growth. If the government doesn’t wake up, we risk sleepwalking into another living standards crisis.”