Key economic statistics

Earnings and pay

% annual rise Whole economy (1) Manufacturing (1) Services (1) Private sector (1) Public sector (1) LRD average pay deals (2) 2001

December 2.4 2.5 2.3 1.9 5.0 3.5

2002

January 2.9 3.1 2.8 2.5 4.7 3.0

February 2.4 2.6 2.2 2.0 4.4 3.0

March 3.4 3.0 3.2 3.2 4.4 2.8

April 3.9 3.3 4.0 4.0 3.5 3.0

May 4.0 3.4 4.2 4.1 3.5 3.0

June 3.8 3.7 3.9 3.8 3.5 3.0

July 4.1 3.7 4.2 4.1 3.9 3.0

August 3.6 3.7 3.6 3.7 3.0 3.0

September 3.7 3.4 3.7 3.6 3.9 3.0

October 3.7 3.9 3.6 3.5 4.1 3.0

November (r) 4.0 4.1 4.1 3.8 4.9 3.0

December (p) 3.4 4.3 3.0 3.0 4.9 3.0

Headline rate for December3 3.7 4.1 3.6 3.5 4.6

1 Average weekly earnings in Great Britain, seasonally adjusted, as monitored by National Statistics. 2 The midpoint of pay settlements for the latest three months as monitored on the Labour Research Department's PayLine database. 3 The average of the earnings increase figures for the latest three months compared with a year earlier. (r) revised (p) provisional

Retail prices

Retail price index (Jan 1987=100) % annual increase % increase excluding mortgage payments 2001

December 173.4 0.7 1.9

2002

January 173.3 1.3 2.6

February 173.8 1.0 2.2

March 174.5 1.3 2.3

April 175.7 1.5 2.3

May 176.2 1.1 1.8

June 176.2 1.0 1.5

July 175.9 1.5 2.0

August 176.4 1.4 1.9

September 177.6 1.7 2.1

October 177.9 2.1 2.3

November 178.2 2.6 2.8

December 178.5 2.9 2.7

2003

January 178.4 2.9 2.7

Source: National Statistics

Full-time average weekly earnings

£pw

All workers 473.10

All male 523.00

All female 390.30

All non-manual 524.70

Female non-manual 412.50

Male non-manual 621.40

All manual 353.90

Female manual 255.50

Male manual 374.80

Source: New Earnings Survey April 2002 figures updated by rise in average earnings between April and December.

Inflation and Earnings Forecasts

2003

Retail Price Index

Average rise 2.5

Range 1.5-4.0

Earnings, whole economy

Average rise 4.2

Range 3.5-4.9

Figures are for fourth quarter of year. Average of around 40 independent forecasts published by the Treasury.