More than 180,000 workers across the UK will have to expect inflation to rise from Monday on as companies introduce a rise in "living wage" prices.
Companies as diverse as Liverpool Football Club, the University of Bristol and Ikea have joined the Living Wage Foundation campaign, which sets a minimum hourly rate "calculated independently of people's needs." The voluntary initiative attracted 1,200 employers last year, leaving a total of 4,700 organizations signed, including one third of the FTSE 100.
The wage rate increases nationally from £ 8.75 to £ 9 per hour, an increase of 2.9 per cent, while in London it rises from £ 10.20 to £ 10.55, an increase of 3.4 per cent. Inflation in the UK fell to 2.4% in September, based on the consumer price index.
The Living Wage Foundation's interest rate is higher than the UK Government's £ 7.83 national living wage, which all employers must pay to workers over the age of 25 years. This should rise to 8.21 GBP next year.
"Responsible companies know that the state minimum is not enough to live on, and today's new Living Wage rates will boost thousands of workers across the UK," said Tess Lanning, director of the Living Wage Foundation.
The organization said the increase in wage rates was due to higher transportation, privately owned and council taxes.
KPMG released a study that found that more than one-fifth of jobs in the UK paid less than voluntary living, with an additional 1.2 million jobs below this level than at the start of the initiative in 2012.
Jenny Baskerville, Director and Co-Head of KPMG UK for Inclusion, Diversity and Social Equality, said the increase in employment income is below the voluntary wage rate "[hammered] the level of poverty in the workplace in the United Kingdom
She added, "Of course, such a major challenge requires collective social effort. For companies, it's important to look beyond the bottom line and instead focus on non-monetary aspects, such as improved employee morale, higher service standards, or higher productivity. "
Javier Echave, Chief Financial Officer of Heathrow Airport, who signed up for the Living Wage campaign last year, said, "Fair pay encourages engagement, higher productivity and better service for our passengers – a win-win solution for all. "