THE TWICE-MONTHLY BULLETIN FOR PAY AND BENEFITS SPECIALISTS - 499 - Up, up - but not yet away - The eighth consecutive rise in headline inflation has pushed the IRS median measure of pay awards up to 3%. But policymakers should not worry unduly, as there are few signs of an imminent pay explosion: over half of deals are pitched at a lower level than the equivalent settlement 12 months previously, compared to a quarter where this year's award is higher.