High UK inflation hastens ‘real living wage’ announcement -Breaking
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© Reuters. FILEPHOTO: Tower Bridge workers walk toward it during morning rush hour. This was during a relaxed lockdown restriction during the COVID-19 pandemic in London. It took place on September 15, 2021. REUTERS/Toby MelvilleLONDON, (Reuters) – The charity which sets Britain’s real living wage, a voluntary rate that is adopted by thousands and employers in Britain, announced on Sunday that it would move the announcement of the 2022/23 rate from November to September due to high inflation.
According to the Living Wage Foundation, employers should be encouraged to adopt the new rate as quickly as possible to keep up with rising living costs.
Katherine Chapman is the Living Wage Foundation’s director. “With inflation quickly approaching double figures,” she said.
According to data released earlier in the month, consumer prices increased 9% annually in April. This is the largest increase since 1982.
The current real living wage in London is 11.05 Pounds per hour ($12.49).
The minimum legal wage is currently 9.50 an hour.
Google (NASDAQ:) is one of more than 10,000 companies that have agreed to pay the living wage. It was calculated by Resolution Foundation, an organization that promotes living standards.
($1 = 0.7926 pounds)
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