In March 2022 (16 to 27 March 2022), 34% of renters reported their rent had increased in the last six months, compared with 19% of mortgagors who reported their mortgage payments had increased over this period. There has been a steady increase in the number of adults reporting an increase in the cost of living over the previous month since November 2021. Biggest squeeze for public sector pay in 20 years - BBC News The UK economy narrowly avoided a technical recession at the end of 2022 as output stayed almost unchanged. Our Investigating the impact of different weighting methods on CPIH methodology compares the two approaches, alongside additional approaches to weighting a price index. During 16 to 27 March 2022, a greater percentage of renters (37%) found it very difficult or difficult to pay usual household bills compared with a year ago, compared with mortgagors (23%). Throughout 2022, the average salary rose by nearly 3 a month. The latest analysis in this article is based on the period between 16 and 27 March 2022, with 4,471 households sampled. Retail sales volumes (the amount of stuff bought) are estimated to have fallen by 0.9% in March 2023. Budget 2021: Public sector workers set for pay rise, says Sunak "30k now, is not the same as it was three years ago," said chief executive Chris Stringer told the BBC. Consequently, the ongoing misalignment between rising demand and falling supply continues to exert upward pressure on rents. But overall, inactivity remains more than 560,000 higher than pre-pandemic levels. Data are available to download alongside this release in Section 4. Focusing on the latest period, among those who pay energy bills, around 4 in 10 (43%) reported that it was very or somewhat difficult to afford their energy bills in March 2022 (16 to 27 March 2022). Youve accepted all cookies. The difference in the responses of renters and mortgagors likely reflects some mortgagors being on fixed rate mortgages, whereas renters may be more exposed to increases in rent. However, data are not available on specific price indices and therefore we have had to use national price indices as an approximation. Index of Private Housing Rental Prices, UK: annual weights analysis Dataset | Released 23 March 2022 Aggregate weights information used in the experimental Index of Private Housing Rental Prices (IPHRP). Using plutocratic weighting allows for comparisons to be made between the household group inflation rates and the headline CPIH, because both are produced within an established framework. Consumer Prices Index including owner occupiers housing costs (CPIH) annual inflation was 10.5% for low-income households (those in the second income decile) and 9.1% for high-income households (those in the ninth income decile) in the year to October 2022, compared with an all-households rate of 9.6%. Adults living in the most deprived areas of England were more likely to report not being able to save in the next 12 months than adults living in the least deprived areas of England. Employers set to award record pay rises in 2022 in the face of - CIPD Around 9 in 10 (87%) adults reported an increase in their cost of living over the previous month in March 2022 (16 to 27 March 2022), an increase of 25 percentage points compared with. More information on the methodology used to calculate these indices can be found in our Methodology to calculate CPIH-consistent inflation rates for UK household groups. #NBSLiveAt9|April 28th 2023 | #NBSLiveAt9|April 28th 2023 # - Facebook Figure 5 shows the annual rates of price growth experienced by each tenure type between November 2017 and October 2022, compared with the overall CPIH and CPI annual growth rate. Public service pensions which have been in payment for a year will be increased by 10.1% from 10 April 2023 in line with the September-to-September increase in the Consumer Price Index (CPI). UK employers expect to give workers pay rises of 5% this year, the highest in at least a decade, according to a survey of more than 2,000 businesses.
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