New Inflation rates for year to July 2021
The Office for National Statistics (ONS) has published inflation rates for the year to July 2021. The Retail Prices Index (RPI) increased to 3.8% for the year to July 2021, a fall of 0.1% from 3.9% for the year to June 2021.
The alternative measures of CPI and CPIH rose by 2.0% (down from 2.5% to June) and 2.1% (down from 2.4% to June) 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.