Head Office Circular No. NP/202/20
To all Branches and Regional Councils
19th August 2020
New Inflation rates for year to July 2020
The Office for National Statistics (ONS) have published inflation rates for the year to July 2020. The Retail Prices Index (RPI) has increased to 1.6% , which is 0.5% up on the year to June 2020. The alternative measures of CPI and CPIH were 1% (up 0.4%) and 1.1% (up 0.3%) respectively.
The RPI figure for July (1.6%) is the rate Government will use to increase regulated rail passenger fares from 1 January 2021.
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.