Dod101 wrote:tjh290633 wrote:Interesting to note that the Average Total Pay Index (K54U) has fallen by -1.77% between March and April, from 196.2 to 192.7. See earn01jun2022.xls, downloadable from the ONS web site at https://www.ons.gov.uk/employmentandlab ... ingsearn01 - and note that there are some changes to earlier months if you look at previous versions.
April is, of course, the yardstick for the Triple Lock, and this reduced the annual increase from 8.32% in March to 5.54%. Is this a coincidence?
TJH
The Times this morning has an item on this. The month for measuring the rise is actually September and the indexed part of the measure is the CPI for that month. September 2022 is likely to see a CPI of at least 10%, and thus it is likely that State Pensions will rise by at least this amount in April 2023.
Depends of course on what happens to wages in the meantime, but the assumption seems to be that the CPI will be the highest of the three measures used.
It seems therefore that your conspiracy theory does not hold water.
Dod
Still, it will be interesting to see if there is another September blip in the trend this year.
Monthly CPI figures for 2021:
Jul 2.0%
Aug 3.2% (+ 1.2)
Sep 3.1% (- 0.1)
Oct 4.2% (+ 1.1)
Nov 5.1% (+ 0.9)
(Obviously not suggesting this was anything other than a convenient random anomaly... )