Workplace Report (February 2023)

Pay and prices

2023 Forecasts

RPI1 Average Earnings2
Median 13.8% 6.0%
ITEM Club 12.9% 6.2%
Oxford Economics 13.9% 6.1%
Capital Economics 13.7% 6.0%
OBR 14.1% 5.9%

Source: HM Treasury, Forecasts for the UK economy, December 2022. 1 Fourth quarter 2 Calendar year


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