ChatterBank1 min ago
Pay Increase
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Hi all. If I haven't had a pay rise since Nov '04 and I wanted an increase based on the rate of inflation. What increase would I get? or in other words, what has been the rate of inflation in the last 2 years?!
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There are different ways of measuring inflation.
The Consumer Price Index (which is the government's preferred measure) for annual inflation was running at 2.4% at the end of October. A year before, it was 2.3%. Compounding these figures, over a two year period, gives an aggregate rise of 4.8%
However, the Retail Price Index for annual inflation was running at 3.7% at the end of October. A year before, it was at 2.5%. Compounding these two figures, over the two year period, gives an aggregate rise of 6.3%.
http://www.statistics.gov.uk/CCI/nugget.asp?ID =19
Chris
The Consumer Price Index (which is the government's preferred measure) for annual inflation was running at 2.4% at the end of October. A year before, it was 2.3%. Compounding these figures, over a two year period, gives an aggregate rise of 4.8%
However, the Retail Price Index for annual inflation was running at 3.7% at the end of October. A year before, it was at 2.5%. Compounding these two figures, over the two year period, gives an aggregate rise of 6.3%.
http://www.statistics.gov.uk/CCI/nugget.asp?ID =19
Chris
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