New Inflation Rates - Year to May 2023

Head Office Circular No. NP/110/23

 

To all Branches and Regional Councils

 

21st June 2023

 

Dear Colleagues

 

New Inflation rates for year to May 2023

 

The Office for National Statistics (ONS) has published[1] inflation rates for the year to May 2023The Retail Prices Index (RPI) was 11.3%, 0.1% below the previous month’s figure. Wages and food prices continue to be subject to extreme inflationary pressure.

 

The alternative measures of CPI and CPIH also fell, to 8.7% (no change on the previous month) and 7.9% (a 0.1% increase) respectively.

 

Your union’s policy is to use the RPI rate in 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

20200518 Mick Lynch sig

Michael Lynch

General Secretary

 

 

[1] https://www.ons.gov.uk/economy/inflationandpriceindices