Bulletin
CSCU – Matter: Wage Increases
June 29, 2023
To: All MoveUP members at CSCU
Your union has been contacted, pertaining to your July 1 wage increase in the employer’s recent announcement. We write to explain how a 12-month Consumer Price Index percentage is calculated: CPI 12-month % change in May 2023 = ((May 2023 CPI value ÷ May 2022 CPI value) − 1) × 100 = ((157 ÷ 151.9) − 1) × 100 = 3.35%.
Your union negotiated the language to protect your wage increases in the event that the inflation rate does not decelerate. Instead of 3% for the second year, you will be receiving a 3.4% increase. The Bank of Canada aims to keep the inflation at the 2 per cent midpoint of an inflation-control target range of 1 to 3 per cent. We encourage you to read more about the Consumer Price Index. Should you have any questions, please don’t hesitate to contact me via email.
In solidarity,
Anny Chen,
Union Representative