Median pay and RPI converge

The median pay rise achieved in unionised workplaces in the three months to October was 6%, according to LRD Payline. This figure was roughly the same for workers on the lowest rate of pay and those on all other grades. The big news this month is the fall in inflation, with RPI down to 6.1% (from 8.9%) and CPI down to 4.8%. While this means that median wage rises are now increasing at the same rate as prices, "baked-in" high prices mean the cost of-living crisis is far from over.

The latest official figures show regular pay (excludes bonuses) went up by 7.5% over the year to September. The AWE measure of wage growth is down slightly on the previous month and remains varied across industrial sectors.