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Pay and prices
Inflation forecasts
Fourth quarter 2007
| RPI | RPI excluding mortgages | |
| Average | 3.2% | 2.5% |
| Oxford Economic Forecasting | 3.2% | 2.5% |
| NIESR | 4.0% | 3.2% |
Source: HM Treasury, Forecasts for the UK Economy, April 2007
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