Postal workers this week got a reminder of how bosses use a different measure of inflation when negotiating wages to the one they use when setting prices.
Canteen prices in Royal Mail offices have shot up to take account of “annual food inflation that has climbed to 7.4 percent”.
Quandrant, the canteen operators, explain how the price of bread has risen by 20 percent in the last 12 months, while eggs are up 40 percent, and butter a whopping 62 percent.
The bosses take for granted that postal workers will understand that prices have to rise to reflect growing costs.
A pity then the Royal Mail bosses did not apply a similar logic when calculating this year’s pay rise – which worked out at just 4.5 percent.