Head Office Circular No. NP/0188/12
To the Secretary all Branches,
Council of Executive members,
Regional Councils and Regional Offices.
Tuesday 14th August 2012
New Inflation Rates
The Office of National Statistics has just published new inflation figures for the twelve months to July 2012. The Retail Price Index (RPI) stood at 3.2% for the year to July 2012, up 0.4% from the 2.8% figure to June 2012.
The Consumer Price Index (CPI) stood at 2.6% for the year to July 2012, up 0.2% from the 2.4% figure to June 2012.
According to the ONS, the largest upward pressures on the change in the RPI rate came from the purchase of cars, air fares, clothing & footwear and housing.
Additionally, with RPI at 3.2% rail fares are set to increase by an average of 6.2% (RPI + 3%) in January 2013.
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.