Cost Of Living Increase 2024 Uk Percentage

Cost Of Living Increase 2024 Uk Percentage. The treasury confirmed that the national living wage would increase from £10.42 to £11.44 an hour in april 2024 and that it would also apply to those aged 21 or 22. The motion, championed by the pcs union, which represents nearly 200,000 public sector workers, says pay levels have fallen by an average of 1.5 per cent per year since 2011.

It says a 1.25% increase in national insurance contributions will cost the average household £600 a year while the higher energy bills cap is expected to add an additional £500. While this is an increase on july to september period, the new cap will be 6% (or £117) cheaper when compared to the same time last year, when the average bill was capped.