Head Office Circular No. NP/58/18
To the Secretary, all Branches and Regional Councils
20th March 2018
New Inflation rates for year to February 2018
The Office for National Statistics (ONS) have published inflation rates for the year to February 2018. The Retail Prices Index (RPI) was 3.6%, down 0.4% on the year to January 2018. The often quoted, but irrelevant for pay purposes alternative measures of CPI and CPIH were 2.7% (down 0.3%) and 2.5% (down 0.2%) respectively.
Your union’s policy is to use the RPI rate for all pay negotiations. Should an employer attempt to use alternative inflation measures during pay talks, please inform the National Policy department as soon as possible.
I would be grateful if you could bring the content of this circular to the attention of all members in your Branch.