Workplace Report (February 2004)

Pay and prices

Inflation forecasts

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

4th quarter 2004

Average 3.0 (2.4)

Oxford Economic Forecasting 3.5 (2.3)

NIESR 2.5 (2.4)

Source: HM Treasury Forecasts for the UK economy, January 2004


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