Congress welcomes apparent stabilisation in inflation
13 Jul 2006
Congress today welcomed the apparent stabilisation of inflation. Inflation, this year so far, has averaged 3.5 per cent, which is somewhat lower than the 3.9 per cent for the last two months. If the average for the year is close to this, then it will mean a substantial improvement in workers' living standards, Paul Sweeney, Economic Advisor to Congress said.
Under Towards 2016 the annual average increase in earnings will be of the order of 4.6 per cent. If inflation falls next year, as all major agencies have forecast, then there will be sustained improvements in living standards for all employees under the proposed Agreement.
ends