Most of the minimum wage increases since 2016 have not caused an increase in prices.
A new ESRI study, funded by the Low Pay Commission, has found while there was no detectable impact on prices, the largest minimum wage increase to date, implemented in 2024, led to modest price increases in a small number of price categories where minimum-wage workers are more concentrated.
Dr Paul Redmond is Associate Research Professor at the ESRI.…………
