Tuesday 22nd May 2012
Head Office Circular No. NP/0117/12
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 April 2012. The next inflation figures will be published on 19th June.
The Retail Price Index (RPI) stood at 3.5% for the year to April 2012, down 0.1% from the 3.6% figure to March 2012.
The Consumer Price Index (CPI) stood at 3.0% for the year to April 2012, down 0.5% from the 3.5% figure to March 2012.
The ONS cite transport fares, alcohol off-sales, clothing and the purchase of motor vehicles as the most significant drivers of the drop in annual inflation between March and April.
In pay submissions the RMT will continue to emphasise that your financial commitments have increased at a greater rate than inflation and that your living standards are undermined by the current rates of inflation.