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Pay and prices
Inflation forecasts
Fourth quarter 2012
| RPI | RPI excluding mortgages | |
|---|---|---|
| Average | 2.6% | 2.6% |
| Oxford Economic Forecasting | 2.8% | 2.7% |
| ITEM Club | 2.8% | 2.5% |
Source: HM Treasury, Forecasts for the UK Economy, September 2012
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