Settlements on the rise



Settlements edged higher for the second month in a row. 



The three-monthly median increase on lowest basic rates was up to 2.2% in January from 2.1% in December and 2.0% the month before that, analysis of LRD’s Payline database of collective agreements shows.



The standard median rise, affecting most grades, was up to 2.1% in January from 2.0% in December.



However, RPI inflation has been rising at a greater rate, so workers’ living standards have been cut.



Official figures for the last two available months also show average weekly earnings rising at a slower rate than RPI inflation.

www.lrd.org.uk/index.php?pagid=18

https://www.ons.gov.uk/economy/inflationandpriceindices

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours