Maintenance calculations - rate of inflation help please

s2016

Dear all, I hope you can help. My Exh has been court ordered to pay maintenance every month for the past two years. Every july the figure increases in accordance with rate of inflation (either IPR or RPI I am confused which, as I know RPI is retail price index.) I cannot afford a solicitor again to go and chase the new increase and need to email ExH the new figures. Last year I came up with a figure of 2 point something increase but solicitor said it was 3.7% per cent. Solicitor calculated the amount on the £400.00PCM to a new increase of £449.37. I don't know how to find the new figure because I can only find figures in the 2 point something numbers. Then I found a figure stating 4.0 %. I would also need help working out what that would mean in terms of an increase - ie what is the final monthly figure on an XX per cent increase on £449.37 please? Or how do I work out 4.0% increase on £449.37 or do I calculate against the total of 12 months then divide it again? Any help would be really appreciated. Thank you.

Thrugelmir

The ONS publishes all the inflation indexes.

For example if inflation rate is 3%.

Multiply £449.37 by 1.03.

=£462.85p

alanq

Here are monthly RPI figures. You need to select "table".

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/chaw/mm23

New amount = original amount * (RPI now / RPI at start)

s2016

Thank you both so much for this. It's helped perfectly.

agrinnall

I'm a bit surprised your ex didn't complain last year as an increase from £400 to £449.37 is over 11% rather than the 3.7% your solicitor gave you (and is vastly more than inflation has been at any time in the recent past).

masonic

There's a nice table maintained here: http://www.wolfbane.com/rpi.htm

s2016

Thanks Masonic and sorry for slow response!