Here are the latest inflation and labour market figures for MARCH 2017 based on the Government Press Release on Consumer Prices Index and Regional Labour Market figures
Retail Prices Index (RPI) & Consumer Prices Index (CPI) figures represent % change over 12 months
Consumer Prices Index (CPI) 2.3 % (no change from last month)
Consumer Prices Index with housing (CPIH) 2.3 % (no change from last month)
Retail Prices Headline Inflation Rate (RPI All items) 3.1 % (-0.1% from last month)
Underlying Inflation Rate (RPIX excl mortgages) 3.4 % (-0.6% from last month)
NOTE: CPIH is now the preferred Government measure The Government is to make CPIH its main measure of inflation in its next data release, on 21 March 2017. The CPI excludes housing costs, however, and as a result the ONS has been developing the CPIH, which includes a measure of housing costs based on rental equivalents. The CPIH uses the rent paid for equivalent housing as a proxy for the costs faced by owner occupiers. (This may impact any pay negotiations or pension schemes that specifically refer to CPI)
See attached <KEY FIGURES> file for current National Minimum/Living Wage Rates and the current GMB Contribution Rates as agreed by GMB Congress 2016
The attached documents contain information that would be useful for pay negotiations: current & historical information on inflation rate and average earnings and can be accessed from the Research Publications shared drive (Res_Pubs) currently on the Wimbledonvm server. Go to the www.statistics.gov.uk for Regional Labour Statistics.
Pay and Work Rights
Help and advice for workers on rights and obligations at work call Acas helpline Telephone: 0300 123 1100 Monday to Friday, 8am to 8pm Saturday, 9am to 1pm
Next release dates for inflation (note: Average Earnings/ unemployment figures normally come out after inflation rates are 16 May 2017
Consumer Prices Index (CPI) 2.3 % (no change from last month)
Consumer Prices Index with housing (CPIH) 2.3 % (no change from last month)
Retail Prices Headline Inflation Rate (RPI All items) 3.1 % (-0.1% from last month)
Underlying Inflation Rate (RPIX excl mortgages) 3.4 % (-0.6% from last month)
NOTE: CPIH is now the preferred Government measure The Government is to make CPIH its main measure of inflation in its next data release, on 21 March 2017. The CPI excludes housing costs, however, and as a result the ONS has been developing the CPIH, which includes a measure of housing costs based on rental equivalents. The CPIH uses the rent paid for equivalent housing as a proxy for the costs faced by owner occupiers. (This may impact any pay negotiations or pension schemes that specifically refer to CPI)
See attached <KEY FIGURES> file for current National Minimum/Living Wage Rates and the current GMB Contribution Rates as agreed by GMB Congress 2016
The attached documents contain information that would be useful for pay negotiations: current & historical information on inflation rate and average earnings and can be accessed from the Research Publications shared drive (Res_Pubs) currently on the Wimbledonvm server. Go to the www.statistics.gov.uk for Regional Labour Statistics.
Pay and Work Rights
Help and advice for workers on rights and obligations at work call Acas helpline Telephone: 0300 123 1100 Monday to Friday, 8am to 8pm Saturday, 9am to 1pm
Next release dates for inflation (note: Average Earnings/ unemployment figures normally come out after inflation rates are 16 May 2017
| key_figures_april_2017.pdf |
| latest_inflation_april_2017.pdf |
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