Some people are getting quite excited about the rapidly-increasing inflation figures. After all, if the February RPI figure (published next month) is, say, 3.5%, then we will get a 4% pay rise.
Tubeworker hates to pour on cold water, but if RPI is 3.5%, that is because prices are going up rapidly. So even if we get more money coming in, that is only because it will be going out faster! And if RPI continues to rise, then the 0.5% extra will soon be wiped out.
The only solution is to make sure that our next pay fight is more effective than the last few. A good start would be for the unions' pay claims to specify the rise that we want, rather than use the vague phrase 'a substantial pay rise'.