Workplace Report (June 2002)

Features: Pay and Prices

Inflation forecasts

RPI forecasts (and underlying inflation -

excluding mortgage interest payments)

4th quarter 2002 4th quarter 2003

Average 2.4 (2.3) 2.8 (2.4)

Oxford Economic Forecasting 2.2 (1.9) 3.1 (2.3)

NIESR 2.5 (2.0) 2.7 (2.5)

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


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