How to use inflation statistics in pay setting

Author: Sarah Welfare

Summary

Click on any of the hyperlinks to go to more detailed guidance below.

• Understand what inflation is and how it is measured.
• Use consumer price inflation measures for information on the cost of living.
• Familiarise yourself with the available official statistics and note the advantages and disadvantages of using the different measures.
• Consider the different ways employers use inflation when setting their pay award.
• Make use of HR & Compliance Centre's economics indicators section to get timely information.