Pay and prices
Inflation forecasts
Fourth quarter 2007
| RPI | RPI excluding mortgages | |
| Average | 3.5% | 2.7% |
| Oxford Economic Forecasting | 3.4% | 2.6% |
| NIESR | 4.2% | 3.3% |
Source: HM Treasury, Forecasts for the UK Economy, May 2007
Fourth quarter 2007
| RPI | RPI excluding mortgages | |
| Average | 3.5% | 2.7% |
| Oxford Economic Forecasting | 3.4% | 2.6% |
| NIESR | 4.2% | 3.3% |
Source: HM Treasury, Forecasts for the UK Economy, May 2007
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