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Old 28th Feb 2005, 16:13
  #38 (permalink)  
pr00ne
 
Join Date: May 2003
Location: London/Oxford/New York
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Lineslime,

The GOVERNMENT do not state inflation figures, that is the job of the independent Bank of England, just like interest rates. The Chancellor of the Exchequer forecasts growth and inflation, but he doesn’t state it.

Like it or lump it the agreed rate of inflation measure used for all pay settlements is the RPI and NOT the CPI.

CPI is just over 2% now and is forecast to hit 3.5% by the third quarter of the year before falling to around 1.9%.

RPI is currently 1.9% forecast to be 2.1% through this fiscal year.
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