Workplace Report (October 2002)

Features: Pay & Prices

Inflation forecasts

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

4th quarter 2002 4th quarter 2003

Average 2.0 (2.1) 2.8 (2.4)

Oxford Economic Forecasting 2.0 (2.0) 3.0 (2.1)

NIESR 2.2 (2.2) 3.1 (2.5)

Source: HM Treasury Forecasts for the UK economy, October 2002


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