Workplace Report (January 2022)

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.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1040871/Forecomp_December_2021.pdf


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