15th June 2010
TO: ALL BRANCHES, REGIONAL ORGANISERS, REGIONAL COUNCILS, & COUNCIL OF EXECUTIVES.
Inflation Rates Circular
The May rates of RPI and CPI were published by the Office for National Statistics on the 15th June 2010. The next publication date is the 13th July 2010. The May 2010 retail prices index rate is 5.1%.
This is down from 5.3% in April. The Government’s preferred measure of inflation, CPI, is at 3.4%, down from 3.7% in April.
There most significant changes came from:
food and non-alcoholic drinks, mainly due to meat and fruit prices which fell between April and May this year but rose between the same two months a year ago
transport where the price of petrol rose by 0.3 pence per litre this year but by 2.8 pence a year ago
- alcoholic drinks and tobacco where prices fell by 0.2 per cent between April and May this year but rose by 1.6 per cent a year ago, mainly reflecting the increase in excise duty announced in last year’s budget. The effect of this year’s budget was mainly seen in the April figures
- recreation and culture where small downward effects were observed across a wide range of these goods and services
- 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.