New Inflation Rates

Head Office Circular No. NP/319/12

To the Secretary all Branches,
Council of Executive members,
Regional Councils and Regional Offices.

Tuesday 18th December 2012

Dear Colleagues,

New Inflation Rates

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

The Retail Price Index (RPI) stood at 3% for the year to November 2012, down 0.2% from the 3.2% figure to October 2012.

The Consumer Price Index (CPI) stood at 2.7% for the year to November 2012, unchanged from the figure to October 2012.

According to the ONS, the largest downward pressures behind the change in the RPI rate came from motoring expenditure, housing and household goods. These were partially offset by an upward pressure from food.

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