Payments are income tax free and retail price index
linked -which means they rise with inflation.
He told MPs train companies would have to abide by the existing annual price- rise formula even if that formula means fares Train companies are allowed to annually raise regulated fares, which include season tickets, by the Retail Price Index
(RPI) inflation plus 1%, depending on what the RPI rate is in July.
The government has offered teachers a 2.4% pay rise, but the union wants at least the equivalent to the retail price index
measure of inflation - over 4%.
Research by pay analysts Incomes Data Services (IDS) showed that the retail price index
was putting upward pressure on wage deals.
n Last month the wider retail price index
, including mortgage payments, stood at 3.3 per cent.
The ceiling will be linked with the retail price index
and in the meantime officials will work on minor adjustments such as removing anomalies over prizemoney.
The General Retail Price Index
in the National Capital Region rose 3.5 percent in January from 2.5 percent in December 2017.
They want judges to declare the switch to the Consumer Price Index from the fasterrising Retail Price Index
for calculating pensions unlawful.
The cost of goods as measured by the Retail Price Index
rose by 7.4 per cent between January 2008 and September this year, but older people have faced a far steeper rate of inflation because of the higher proportion of their income they spend on food and utility bills.
With justification pension fund managers have reacted angrily to the Government's attempt to force private pension schemes to use the consumer price index (CPI) rather than the retail price index
(RPI) to set minimum annual pension increases.
The retail price index
in July waned 2.2 percent from July 2008.
University graduates pay back money to the Student Loans Company with interest levels based on the March Retail Price Index