How to use inflation statistics in pay setting
Author: Sarah Welfare
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 XpertHR's economics indicators section to get timely information.