Take home pay index

VocaLink collaborates with the Centre for Economics and Business Research (CEBR) to produce a monthly index tracking take-home pay inflation in the UK. It is compiled from the salary payments of a sample of FTSE 350 companies.

The data is captured by VocaLink during the processing of Bacs Direct Credits, the method by which 90% of salaries in the UK are paid. VocaLink processes all automated payments in the UK including Bacs Direct Credits and Direct Debits.

The VocaLink take home pay index is used by economists, analysts and the media. Pay inflation is an important aspect of the UK’s economic performance and is one of the components that drive the Monetary Policy Committee’s monthly interest rate decision.