News
Inflation gap widens
Pay bargaining may be affected by a widening gap between the union-preferred RPI measure of inflation and the CPI measure including a housing element.
In July the difference grew to a full 1.7 percentage points, with RPI at 3.8% and CPIH at 2.1%. CPI inflation was 2.0%, matching the target set for the Bank of England.
Clothing and footwear prices and recreational goods and services contributed most to the fall.