“Moderate inflation has allowed employers to continue to control payroll costs,” said Charles Peck, compensation specialist at The Conference Board, in a release. “This continued control is reflected in the pattern of salary increase budgets this year compared with last year’s projections.”
According to the board’s survey, there will be a 3.1% rise in inflation for 2006 and 3.3% for 2007. The survey also estimates that inflation will be less than median salary budgets in both 2006 and 2007.