Workplace Report (April 2002)

Pay and prices

Inflation forecasts

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

4th quarter 2002 4th quarter 2003

Average 2.4 (2.2) 2.9 (2.4)

Oxford Economic Forecasting 2.2 (2.1) 2.9 (2.1)

NIESR 2.3 (1.6) 2.6 (2.5)

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


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