The calculation of this index takes into account all earnings increase during the last three months (all payments that were really made but not “charged” are taken into account). It is a good indicator of future inflation rate, since earnings growth (if it is not balanced by rise of labor productivity) turns out to be the reason of price growth. The index is also considered to be one of the most determined indicators, according to which the English Bank defines an interest rate. It is published monthly. It exerts a significant influence on the market.
