Pay and prices
It is 2.8% yet again for deals
Settlements have maintained their level in the first three months of the year. The median (midpoint) increase for pay deals on LRD’s Payline database for the three months to March is 2.8% — the same increase as for January and February.
In the public sector, however, the median has slipped from 3.0% at the start of the year to 2.7% in March, but in the pay round so far the median is 3.5%.
With RPI inflation running at between 2.4% and 2.5% in the first quarter of the year, the increases in pay deals have been in real terms, that is, outstripped inflation.