New Inflation Rates

Head Office Circular No. NP/0216/12

To the Secretary all Branches,

Council of Executive members,

Regional Councils and Regional Offices.

Tuesday 18^th September 2012

Dear Colleagues,

New Inflation Rates

The Office of National Statistics has just published new inflation figures for the twelve months to August 2012. 

The Retail Price Index (RPI) stood at 2.9% for the year to August 2012, down 0.3% from the 3.2% figure to July 2012.

The Consumer Price Index (CPI) stood at 2.5% for the year to July 2012, down 0.1% from the 2.6% figure to July 2012.

According to the ONS, the largest downward inflationary pressures came from household goods, housing & household services (particularly gas bills), clothing & footwear and food. The only significant upward pressure came from motor fuels, fares & other travel costs.

RMT pay submissions will continue to emphasise that your financial commitments have increased at a greater rate than inflation and that your living standards are undermined by this disparity.

Yours sincerely

Bob Crow

General Secretary