Car maker Rolls-Royce has averted a strike after agreeing a near-18% pay deal with staff at its Goodwood plant, according to the Unite trade union.
Rolls-Royce Motor Cars, not to be confused with aircraft engine maker Rolls-Royce Holdings PLC (LSE:RR.), will bump up by 10% the salaries of its 1,200 production workers, with a single extra payment of £2,000 next year.
This means production line workers on the lowest rate of pay will see a 17.6% hike to their pay, with the average worker enjoying a 16% increase.
The rate of UK consumer price inflation was last reported to be up 10.7% in November compared to a year earlier, the Office for National Statistics revealed earlier this week.