Originally Posted by
witwiw
Is my memory correct that the 27% included a "catch-up" component due to previous freezes on the then CPI increases over the years? (It may not have been automatic CPI increases as such like today but increases nonetheless awarded by some wages commission/authority etc - someone can elaborate on that aspect).
IIRC, if the percentage CPI increase exceeded a certain dollar figure, then any increase was capped at that figure. Over time and in real terms, this effectively meant a slow erosion of salaries for those higher incomes.
Sounds very contemporary, except if you are a CEO!