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Can anyone say what this means?

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brightonme
Posted by
Junior Member

23 Mar 22 #519037 by brightonme

Topic started by brightonme

I have a sealed Consent Order with a yearly increase for maintenance in it. I'm trying to figure out how to calculate what it should be from April this year. It says the following:

"The amount of periodical payments order above shall be varied automatically with effect from the payment due on 6 April 2022 in each year by the percentage change, if any, by which the Retail Price Index shall have changed between the date 15 months before the variation and the date 3 months before it."

I can see the monthly RPI values on the government website so have those fine. Just want to know how to use those to calculate the increase.

Rickoshea
Platinum Member

24 Mar 22 - 24 Mar 22 #519038 by Rickoshea

Reply from Rickoshea

It's probably worth clarifying how they define the 3 and 15 months "before"

But if April is the change then I would have read that to mean the difference between Jan 2021(15 months) and Jan 2022 (3 months)

From this table
www.ons.gov.uk/economy/inflationandprice...timeseries/chaw/mm23

It gives 294.6 and 317.7, so (317.7-294.6)/294.6 = 7.8%

There are a couple of sites offering calculators that come up with the same result so it's as near as I would be guessing

Last edit: 24 Mar 22 by Rickoshea.

brightonme
Posted by
Junior Member

24 Mar 22 #519039 by brightonme

Reply from brightonme

Great, yes that looks right to me too. Thank you.

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