News
Inflation surges
An annual inflation rate of 7.5% on the Retail Prices Index (RPI) was recorded for the year that ended in December 2021. As usual, widely quoted figures based on the Consumer Prices Index (CPI) were lower, but still unquestionably high at 5.4%. (With a housing element, CPIH inflation was 4.8%.)
The more significant gap is between RPI at 7.5% and November’s 3.5% earnings increase.