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Average pay deal in Britain worth just 2%, data shows
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The average pay deal across the UK is worth just 2%, despite a rise in prices that pushed the retail prices index (RPI) – a widely used measure of inflation in pay bargaining – to 6% this month.
According to the latest figures from the consultancy XpertHR, pay bargaining across some of Britain’s biggest private and public sector employers showed median basic pay increased 2% in the three months to the end of October, unchanged for the seventh consecutive month.
“The data shows that pay awards are at the same level as this time last year and confirms a period of stability after awards dipped in the middle of 2020 and the beginning of 2021,” the firm said.
In a clear signal that inflation is causing a sharp decline in disposable incomes across
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