Tuesday 17th January 2012
Circular No. National Policy 003/12/MC
To the Secretary all Branches,
Council of Executive members,
Regional Councils and Regional Offices.
New Inflation Rates
The Office of National Statistics has just published new inflation figures for the twelve months to December 2011. The next release date will be the 14th February 2012.
The Retail Price Index (RPI) for this twelve monthly period is 4.8%, down from the 5.2% figure for the twelve months to November 2011.
The Consumer Price Index (CPI) is 4.2% for the twelve months to December 2011. This is down 0.6% from the figure for the twelve months to November 2011.
The fall in RPI is the largest fall in annual inflation since between May and June 2009. The largest downward pressures to the change in RPI annual inflation between November and December 2011 came from petrol, oil & other fuels, gas and clothing & footwear. Partially offsetting these were upward pressures from car insurance and telephone charges.
In pay submissions the RMT will continue to emphasise that your financial commitments have increased at a much greater rate than inflation and your living standards have suffered as a result.