Inflation

Pay growth barely continued to outpace inflation at the end of 2023, February 2024 labour market figures have shown.

More than half of pay deals are expected to be lower than 2023, with early data for January suggesting the median has fallen.

Pay growth continued to outpace inflation in autumn 2023, but at a slower rate, January 2024 labour market figures show.

Inflation in November dropped more than expected to 3.9%, the Office for National Statistics has said.

Pay growth slowed as vacancies continued to fall, December 2023 labour market figures from the ONS show.

Years of wage stagnation have cost the average UK worker £10,700 a year in lost pay growth, a report has claimed.

The Treasury has announced a 9.8% increase to the national living wage from April 2024.

The average pay settlement returned to 6% in the three months to the end of October 2023, finds XpertHR.

Inflation (CPI) falls from 6.7% to 4.6% in the year to October 2023 while RPI decreases from 8.9% to 6.1%, new data from the ONS show.

The November 2023 labour market figures show growth in average earnings continues to outstrip inflation, but at a slower rate.

Thousands of employers are at risk of insolvency, according to data from Begbies Traynor.

Employers pay predictions for 2024 suggest the average pay settlement will be slightly lower than this year.

Average weekly earnings figures for July-August 2023 showed pay growth outperformed inflation for the first time in two years.

The Labour Party would introduce a genuine living wage if it were to gain power at the next general election.

Inflation fell slightly in August from 6.8% to 6.7%, prompting hopes that interest rates will not increase.