Pay and prices
2023 Forecasts
| RPI1 | Average Earnings2 | |
|---|---|---|
| Median | 5.8% | 4.7% |
| ITEM Club | 4.8% | 3.6% |
| Oxford Economics | 4.8% | 5.0% |
| Capital Economics | 5.9% | 5.8% |
| OBR | 6.3% | 4.2% |
Source: HM Treasury, Forecasts for the UK economy, December 2022. 1 Fourth quarter 2 Calendar year