To calculate the annual change in real terms, we adjusted April 2022 earnings to what they would have been in April 2023 if workers received pay rises in line with inflation, or more precisely, the Consumer Prices Index including owner occupiers’ housing costs (CPIH). The difference between the recorded April 2023 wages and the inflation-adjusted estimates is the annual change in real terms.
https://www.bbc.co.uk/news/business-67308318?at_medium=RSS&at_campaign=KARANGA,
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