Pay and prices
2022 forecasts
| RPI1 | Average earnings2 | |
|---|---|---|
| Median | 6.3% | 5.3% |
| ITEM Club | 6.0% | 5.2% |
| Oxford Economics | 6.3% | 5.2% |
| Capital Economics | 6.4% | 5.5% |
| OBR | 5.2% | 5.0% |
1 Fourth quarter
2 Calendar year
Source: HM Treasury, Forecasts for the UK economy, December 2021.