Retail Price Index versus Consumer Price Index
Retail Price Index
The National Statistics website http://www.statistics.gov.uk/cci/nugget.asp?id=21
“The Retail Prices Index (RPI) is the most familiar general purpose domestic measure of inflation in the United Kingdom. It is available continuously from June 1947. The Government uses it for uprating of pensions, benefits and index-linked gilts. It is commonly used in private contracts for uprating of maintenance payments and housing rents. It is also used for wage bargaining”
Consumer Price Index
"The Consumer Prices (CPI) and the Harmonised Index of Consumer Prices (HICP) are the same index. The index has been designed as a macro-economic measure of consumer price inflation. It forms the basis for the Government's inflation target which the Bank of England's Monetary Policy Committee is required to achieve."
Clear as mud?
Put it simply the RPI is the more accurate measure of the cost of living pressures on households. The Government like to use CPI because it makes their Pay Policy look like it is in line with prices……………
Just how thick do they think we are?
Well it seems we are prepared to believe anything……apparently Public Sector workers are responsible for rises in inflation! (WHAT RUBBISH !) This is why the Government believes all Public Sector workers should be happy with 2% Pay Awards, year after year after year after year!
Funny that…………..no problem finding
£100 Billion to bail out Northern Rock……
£50 Billion to bail out major banks in the city …
£XXX Billion on the war in Iraq & Afghanstan
Or, hitting the low income households with the 10 pence Tax rate
Well, Public Sector workers can have a say…….our branch is carrying out a consultative ballot. If you haven’t had your ballot paper yet, contact the UNISON office on 0208 359 2088/2083 or email contactus@barnetunison.org.uk
Use your vote
Retail Price Index
The National Statistics website http://www.statistics.gov.uk/cci/nugget.asp?id=21
“The Retail Prices Index (RPI) is the most familiar general purpose domestic measure of inflation in the United Kingdom. It is available continuously from June 1947. The Government uses it for uprating of pensions, benefits and index-linked gilts. It is commonly used in private contracts for uprating of maintenance payments and housing rents. It is also used for wage bargaining”
Consumer Price Index
"The Consumer Prices (CPI) and the Harmonised Index of Consumer Prices (HICP) are the same index. The index has been designed as a macro-economic measure of consumer price inflation. It forms the basis for the Government's inflation target which the Bank of England's Monetary Policy Committee is required to achieve."
Clear as mud?
Put it simply the RPI is the more accurate measure of the cost of living pressures on households. The Government like to use CPI because it makes their Pay Policy look like it is in line with prices……………
Just how thick do they think we are?
Well it seems we are prepared to believe anything……apparently Public Sector workers are responsible for rises in inflation! (WHAT RUBBISH !) This is why the Government believes all Public Sector workers should be happy with 2% Pay Awards, year after year after year after year!
Funny that…………..no problem finding
£100 Billion to bail out Northern Rock……
£50 Billion to bail out major banks in the city …
£XXX Billion on the war in Iraq & Afghanstan
Or, hitting the low income households with the 10 pence Tax rate
Well, Public Sector workers can have a say…….our branch is carrying out a consultative ballot. If you haven’t had your ballot paper yet, contact the UNISON office on 0208 359 2088/2083 or email contactus@barnetunison.org.uk
Use your vote
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