Workplace Report November 2003

Features: Pay and Prices

Inflation forecasts

RPI forecasts (and underlying inflation- excluding mortgage interest payments)

4th quarter 2004

Average 2.9 (2.4)

Oxford Economic Forecasting 3.3 (2.2)

NIESR 2.5 (2.4)

Source: HM Treasury Forecasts for the UK economy, November 2003