New Inflation rates for year to November 2017

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Head Office Circular No. NP/214/17

To the Secretary, all Branches and Regional Councils
Tuesday 12 December 2017

Dear Colleagues

New Inflation rates for year to November 2017

The Office for National Statistics (ONS) have published inflation rates for the year to November 2017. The Retail Prices Index (RPI) was 3.9%, down 0.1% on the year to October 2017. The often quoted, but irrelevant for pay purposes alternative measures of CPI and CPIH were 3.1% (up 0.1%) and 2.8% (unchanged) respectively for the year to November 2017.

RPI includes housing costs, whereas CPI does not. Increases in rent and house prices continued in the year to November 2017 and remain at unsustainable levels across the country. Average wages continue to grow at a slower rate than RPI.

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.

Yours sincerely

 

Mick Cash
General Secretary