Head Office Circular No. NP/089/12
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 March 2012.
The Retail Price Index (RPI) stood at 3.6% for the year to March 2012, down 0.1% from the 3.7% figure to February 2012.
The Consumer Price Index (CPI) stood at 3.5% for the year to March 2012, up 0.1% from the 3.4% figure to February 2011.
The ONS cited the prices of fruit, bread, cereals and meat as all rising slightly this year, whereas last year they had seen large falls.
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.