how to calculate salary increase based on inflation uk?
['Step #1: Get the 12-month rate of inflation from the Consumer Price Index (CPI). ... ', 'Step #2: Convert the percentage to a decimal by dividing the rate by 100 (2% = 2 ÷ 100 = 0.02).', 'Step #3: Add one to the result from Step #2 (1 + 0.02 = 1.02).']