Search Results for: inflation

April inflation figures – again, worse than expected

Even by the standards of the past 18 months where all forecasts have been shown to be over-optimistic, the leap in CPI inflation between March and April from 7% up to 9% is a startling one. Here’s the ONS summary … Continue reading

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How to calculate inflation between two dates.

Imagine you wanted to work out what an inflation-rate increase between two dates is? Here’s an outline that I’ve drafted with extensive help from Nick Kardahji in the Prospect research team. Say you are preparing a pay claim for some … Continue reading

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How inflation is affecting individual households

Further to the previous post on the cost of living, Bectu reps may wish to circulate this Office for National Statistics (ONS) page on how to calculate your personal cost-of-living changes.

Posted in Economics, Housing costs, Inflation, Low pay, Minimum wage rates, Pay & inflation, Wages and Pay-rates, Welfare and benefits | Tagged , | Leave a comment

Inflation – latest

Not a detailed post but a useful snapshot. The latest KPMG forecast for UK inflation has it peaking at more than 10% later this year (due to energy price spikes)… pic.twitter.com/7RvQ49MVi3 — Ben Chu (@BenChu_) March 9, 2022  

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January’s inflation figures

Today’s UK inflation figures show cost-of-living increases that reach the highest rate for over 30 years. The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure of inflation increased to 5.5% in January from 5.4% a … Continue reading

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Inflation update (spoiler alert: it’s not good news)

Towards the end of last year, economic forecasters could safely have been described as ‘alarmed’ by inflation figures. I don’t post on this every month (the last real mention was here) and I was briefing members towards the end of … Continue reading

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Got a pay claim coming up? Want advice on inflation, and stuff like that?

If you have a pay claim coming up and want advice on inflation, and stuff like that…. good luck! Firstly, the official, current inflation figures have not been as flimsy a guide as they are at the moment for a … Continue reading

Posted in Economics, Employment, EU & Brexit, Inflation, Pay & inflation, Productivity, Skills & capacity | Tagged | 3 Comments

Inflation – 3.2% in August

The increase in the cost of living, as measured by the Consumer Prices Index, has reached 3.2% in the year to August. But the ONS says that we shouldn’t read too much into this (very large) jump because… “The increase … Continue reading

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Inflation rises to 2.5%

From The Guardian: “Britain’s inflation rate has risen to 2.5% – its highest level in almost three years – after the easing of coronavirus lockdown restrictions prompted rising demand. The Office for National Statistics (ONS) said dearer food, secondhand cars, … Continue reading

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Will Biden’s stimulus package cause inflation?

The LSE blog summarises the arguments with a panel of US experts expressing their views on the likelihood of the economy ‘overheating’ and causing inflation as a result.

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“The beast of inflation”

Haldane has warned of the “beast of inflation” stalking the land once more, with booming demand, labour shortages and supply-chain disruption risking a “wage-price spiral familiar from the 1970s and 1980s”. For Haldane, that warrants action to reduce the scale … Continue reading

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UK economic outlook – forecasts downgraded – what this means for freelancers

Unless someone tells me otherwise, it seems that the biggest issue for many freelancers arising from the cost-of-living crisis is the question of rising fuel costs – and this is likely to hit workers in film and TV particularly hard … Continue reading

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Living Wage Foundation response to the cost of living crisis

As the cost of living soars at rates not seen for more than thirty years, the Living Wage Foundation has announced plans to bring its annual announcement forward from November to late September. The previous figure was announced in mid-November … Continue reading

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Getting the current cost-of-living crisis in perspective

How can we understand the current cost of living crisis in perspective when talking to Bectu members about their wages? One way would be to look at it over a few years. In the past few days, coincidentally, I’ve had … Continue reading

Posted in Economics, Freelance working, Inflation, Low pay, Pay & inflation, Wages and Pay-rates, Wealth inequality, Welfare and benefits | Tagged , , | 1 Comment

Sunak’s spring statement 2022 – initial details

Firstly, with inflation up again at 6.2% from 5.5%, the growth forecasts are fairly conservative at the moment and “we don’t really know how the situation in Ukraine will affect all of this” runs like a subtext to all of … Continue reading

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Food shopping costs soar

Behind a lot of the headlines on inflation (soaring energy and fuel costs in particular), there’s one other important factor to bear in mind – particularly for people on low incomes. While the CPIH inflation rate puts the impact of … Continue reading

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BBC funding statment from the VLV

The Voice of the Listener and Viewer has published the following Briefing note and press release in response to yesterday’s BBC funding settlement.The briefing includes the claim that, on current projections, the BBC will be in deficit by between approximately … Continue reading

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You need a 7.1% pay-rise to stand still.

In the light of today’s news about cost-of-living increases… With tax rises in April and inflation set to hit 5% someone on average earnings will need a wage rise of over 7% to keep their living standards constant https://t.co/UpkxBM1Iku — … Continue reading

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Cost of living price rises – it’s all bad news

There’s lots of bad news around for anyone who isn’t enjoying significant wage rises at the moment. ONS figures are reporting that the consumer prices index (CPI) measure of annual inflation rose to 4.2% in October, up from 3.1% in … Continue reading

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Budget statement – quick reaction

Here’s a quick reaction to today’s Budget statement from Rishi Sunak. As ever, it’s worth waiting for a lot of this to be digested by economists and a range of more detailed briefings will be available in a few hours. … Continue reading

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National Living Wage will rise to £9.50 an hour

The 59p increase for workers over 23 – up 6.6% from £8.91 reflects the inflationary pressure outlined here a few weeks ago. The new rates will rise from 1 April 2022 as follows: National Living Wage for over-23s: From £8.91 … Continue reading

Posted in Economics, Inflation, Low pay, Minimum wage rates, National Insurance Contributions (NICs), Pay & inflation, Tax, Trades Unions, Wages and Pay-rates, Wealth inequality | Tagged , , , | 1 Comment

There’s a lot of job-switching going on

Following on from two posts here this morning about inflation/pay, and the tight labour market, here’s a third on the trinity of issues that are creating a fair wind for union-type demands at the moment. Sarah O’Connor in the FT … Continue reading

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VAT gradually returning to normal rates

Since July 2020, there has been a reduced rate of VAT (5%, and not the normal 20%) charged on transactions in the leisure and hospitality sectors (which includes theatres and live events – a list of who it applies to … Continue reading

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BBC Chair warns against further cuts

From the FT [£], BBC Chair Richard Sharp warned that the licence fee must keep pace with inflation, pointing out that management (currently working towards savings of almost £1bn by next March had gone as far as they could: ““The … Continue reading

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Labour shortages increase potential industrial muscle for workers

Today’s FT is full of news about how labour shortages are hitting the economy in numerous ways as a result of multiple market failures [£] which includes the pandemic, the pingdemic, market failure but obviously, we can’t add brexit to … Continue reading

Posted in Coronavirus, Economics, Employment, EU & Brexit, Gig economy workers, Inflation, IR35, Migration & working abroad, Pay & inflation, Productivity | Tagged , , | Leave a comment

What’s going on with Netflix then?

From the FT [£]: “Subscription growth this year could never match the lockdown-driven surge of 2020. Netflix added 1.5m net new subscribers in the second quarter. While above its own low forecast, it failed to attract anything like the 10m … Continue reading

Posted in Film & TV industry data, Film & TV industry policy, High End TV data, Regulation, Skills & capacity, SVoD | Tagged , , , | Leave a comment

BBC & Channel 4’s contribution to the UK economy

Channel 4 recently published a study by Ernst and Young of the Gross Value Added (GVA) to the UK economy [pdf]  from their activity. This report focuses on the contribution to the Nations and Regions of the UK and concludes … Continue reading

Posted in BBC, Economics, Employment, Film & TV industry data, Film & TV industry policy, Productivity, Public Service Broadcasting | Tagged , , | 1 Comment

Cannes panel on ‘cinema to sofa?’ shift

There was a good European Audiovisual Observatory panel as part of the Cannes Festival held online. The programme can be seen here. Short version of this post: The idea that streaming + pandemic changes to behaviour is too simplistic – … Continue reading

Posted in Copyright & Intellectual Property, Culture policy, EU & Brexit, Feature film data, Film & TV industry data, High End TV data, Public Service Broadcasting, Quotas | Tagged , | 2 Comments

Housing market update

Today’s news about inflation topping the 2% target (driven by consumer spending and rising fuel costs) opens up the question of a possible rise in interest rates. and House prices are still soaring (thanks to the Stamp Duty holiday among … Continue reading

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OECD says UK economy recovery will be stronger than previously predicted

The OECD is predicting UK growth of 7.2% in 2021 and 5.5% in 2022 – “the fastest since World War II”. However, it also predicts…

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Economy headlines for May 2021

Unemployment has fallen slightly and job vacancies risen to their highest level during the pandemic, according to data from the Office for National Statistics (ONS). Inflation has doubled, with CPI rising by 1.5% in the twelve months to April (up … Continue reading

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Prospect Pay Bulletin April 2021

The Prospect Pay Bulletin for April 2021 is available now – here [login required], with latest inflation, settlements and labour market data, as well as a report on Qinetiq’s finances and on new data on outcomes for homeworkers.

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