[UK] High inflation hastens ‘real living wage’ announcement

On May 29, the charity that sets Britain's "real living wage” said it will bring forward the announcement for the 2022/23 rate to September from November because of high inflation, Reuters reports.

The Living Wage Foundation said it would encourage employers to pay the new rate - designed to reflect the rising cost of living - as soon as they can.

Katherine Chapman - director of the Living Wage Foundation - said, "With the rate of inflation fast approaching double figures, we are bringing forward the annual announcement of the 2022-23 Living Wage rates to late September."

Consumer prices rose 9 per cent in annual terms in April, the biggest rise since 1982, according to official data published earlier this month.

The real living wage is a voluntary pay rate adopted by thousands of employers. It currently stands at £9.90 per hour and £11.05 pounds per hour in London.

The statutory national minimum wage stands at £9.50 per hour.

More than 10,000 businesses, including Google, have reportedly signed up to pay the real living wage. It is calculated by the Resolution Foundation, a think tank that focuses on living standards.

Source: Reuters

(Quotes via original reporting)

On May 29, the charity that sets Britain's "real living wage” said it will bring forward the announcement for the 2022/23 rate to September from November because of high inflation, Reuters reports.

The Living Wage Foundation said it would encourage employers to pay the new rate - designed to reflect the rising cost of living - as soon as they can.

Katherine Chapman - director of the Living Wage Foundation - said, "With the rate of inflation fast approaching double figures, we are bringing forward the annual announcement of the 2022-23 Living Wage rates to late September."

Consumer prices rose 9 per cent in annual terms in April, the biggest rise since 1982, according to official data published earlier this month.

The real living wage is a voluntary pay rate adopted by thousands of employers. It currently stands at £9.90 per hour and £11.05 pounds per hour in London.

The statutory national minimum wage stands at £9.50 per hour.

More than 10,000 businesses, including Google, have reportedly signed up to pay the real living wage. It is calculated by the Resolution Foundation, a think tank that focuses on living standards.

Source: Reuters

(Quotes via original reporting)