Due to recent increases in the Consumer Price Index (CPI), the Cost of Living Allowance (COLA) for Urban regular employees will generate a COLA payment for the period of November 1, 2021 to January 31, 2022.
CLAUSE 35.09 OF THE URBAN COLLECTIVE AGREEMENT
The Urban collective agreement provides for the COLA to be paid to regular employees as follows:
The allowance will be paid on a basis of one cent (1 ¢) per hour for each full zero point zero five zero four (0.0504) of a point increase in the C.P.I. above the adjusted index which is five point thirty-three percent (5.33 %) greater than the C.P.I. index published for January 2020.
The CPI for January 2020 was 136.8
The adjusted index is 144.1
The CPI for November 2021 was 144.2 (triggering the COLA)
The CPI for January 2022 was 145.3
The difference between the adjusted index and January 2022 is 1.2
1.2 divided by 0.0504 = 23.8
Therefore, the COLA will be 23 cents per hour paid from November 1, 2021 to January 31, 2022.