The voluntary real living wage has been raised earlier than usual to provide more financial support to hundreds of thousands of workers during the cost-of-living crisis.
The Living Wage Foundation, which sets the hourly rates that employers can opt in to, said they would go up by £1 to £10.90 across the UK and by 90p to £11.95 in London.
The rates – which are independently calculated based on what people need to live on – are higher than the statutory £9.50 an hour for adults.
They are paid by more than 11,000 employers who have signed up to the scheme.
The foundation said 390,000 people would benefit, to the tune of almost £2,000 for a full-time worker. It said the new rates were now worth £2,700 more per year to full-time workers in the UK than those on the national minimum wage and almost £5,000 more in London.
Katherine Chapman, Living Wage Foundation director, said:
Britain is facing “unprecedented challenges with the cost-of-living crisis”. She said: "With living costs rising so rapidly, millions are facing an awful 'heat or eat' choice this winter – that’s why a real living wage is more vital than ever.”