Pay and prices
Uplift of 3.3% for pay deals
Settlements put on a spurt in April and May, according to LRD Payline data. The three-monthly median (midpoint) for collectively agreed deals from LRD’s pay database is 3.3% — the same as the revised figure for April. These two rises break the 2018 run of 3% medians.
The median by workers covered is up to an annual rise of 5.9% in May — itself up from April’s 4.4% rise.
With retail price inflation rising at 3.3% in May, deals are on average holding their value.
The three-monthly rise for average weekly earnings in April was 2.8% — below the RPI inflation rate.