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    • s2016
    • By s2016 5th Jul 18, 7:05 PM
    • 40Posts
    • 11Thanks
    s2016
    Maintenance calculations - rate of inflation help please
    • #1
    • 5th Jul 18, 7:05 PM
    Maintenance calculations - rate of inflation help please 5th Jul 18 at 7:05 PM
    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.
Page 1
    • Thrugelmir
    • By Thrugelmir 5th Jul 18, 8:58 PM
    • 61,016 Posts
    • 54,212 Thanks
    Thrugelmir
    • #2
    • 5th Jul 18, 8:58 PM
    • #2
    • 5th Jul 18, 8:58 PM
    The ONS publishes all the inflation indexes.

    For example if inflation rate is 3%.

    Multiply 449.37 by 1.03.

    =462.85p
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • alanq
    • By alanq 6th Jul 18, 7:12 AM
    • 4,071 Posts
    • 2,663 Thanks
    alanq
    • #3
    • 6th Jul 18, 7:12 AM
    • #3
    • 6th Jul 18, 7:12 AM
    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
    • By s2016 10th Jul 18, 10:49 AM
    • 40 Posts
    • 11 Thanks
    s2016
    • #4
    • 10th Jul 18, 10:49 AM
    • #4
    • 10th Jul 18, 10:49 AM
    Thank you both so much for this. It's helped perfectly.
    • agrinnall
    • By agrinnall 10th Jul 18, 7:10 PM
    • 21,408 Posts
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    agrinnall
    • #5
    • 10th Jul 18, 7:10 PM
    • #5
    • 10th Jul 18, 7:10 PM
    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
    • By masonic 10th Jul 18, 7:56 PM
    • 10,108 Posts
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    masonic
    • #6
    • 10th Jul 18, 7:56 PM
    • #6
    • 10th Jul 18, 7:56 PM
    There's a nice table maintained here: http://www.wolfbane.com/rpi.htm
    • s2016
    • By s2016 14th Sep 18, 11:19 AM
    • 40 Posts
    • 11 Thanks
    s2016
    • #7
    • 14th Sep 18, 11:19 AM
    • #7
    • 14th Sep 18, 11:19 AM
    Thanks Masonic and sorry for slow response!
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