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October 12, 2010

UK inflation stays level, but pensions and wages could rise in April 2011

The news that inflation has stayed above the Bank of England’s 2% target for the last ten months is a clear indication that benefits and pensions will rise in April 2011.

The UK Consumer Prices Index (CPI) inflation remained unchanged in September at 3.1%. The September figure is a crucial one because it sets the rate at which benefits change in April.

Most benefits are now linked to the CPI and will rise by 3.1%, but pensions will increase by the higher 4.6% RPI.

The RPI is an important figure to keep note of, as it may affect some of your wage negotiations in the new year.

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