New Inflation Rates

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Head Office Circular No. NP/315/13

To the Secretary all Branches,
Council of Executive members,
Regional Councils and Regional Offices.

Tuesday 12th November 2013

Dear Colleagues,

New Inflation Rates

The Office for National Statistics has published inflation figures for the twelve months to October.

The Retail Prices Index (RPI) stood at 2.6% for the year to October 2013, down from the 3.2% figure to September 2013.

The Consumer Prices Index (CPI) stood at 2.2% for the year to October 2013, down from the 2.7% figure to September 2013.

One of the largest downward movements in prices (relative to last year) came from transport – especially prices for motor fuels. Specifically, petrol prices fell by 4.9p per litre between September and October 2013 (to stand at 131.6p) compared with a fall of 0.9p per litre between the same two months a year ago. Diesel prices fell by 2.9p per litre between September and October 2013 (to stand at 139.0p) compared with a fall of 0.6p per litre between the same two months a year ago. There were also notable downward contributions from air fares and prices for second hand cars.

RMT pay submissions will continue to emphasise that your financial commitments have increased at a greater rate than official inflation and that your living standards are undermined by this disparity.

Yours sincerely

Bob Crow
General Secretary