Settlements steady at 2.4%


It was as you were in May as LRD’s Payline database of collective agreements posted a three-monthly median increase of 2.4%, the same rise as for April, but above the 2.0% trend in the current pay round. 


However, workers’ living standards are suffering more as RPI inflation has been rising at a greater rate — 3.7% in May and 3.5% in April . 


If the official average weekly earnings figures are used the hit on workers living standards was even greater. The 1.8% annual growth in regular pay for the whole economy in April was 1.7 percentage points less than the RPI inflation rate that month.

www.lrd.org.uk/index.php?pagid=18

https://www.ons.gov.uk/economy/inflationandpriceindices

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours