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Pay and prices
2022 forecasts
| RPI1 | Average earnings2 | |
|---|---|---|
| Median | 5.9% | 4.2% |
| ITEM Club | 4.6% | 2.9% |
| Oxford Economics | 6.4% | 4.5% |
| Capital Economics | 6.8% | 4.3% |
| OBR | 4.2% | 3.9% |
1 Fourth quarter
2 Calendar year
Source: HM Treasury, Forecasts for the UK economy, February 2022.