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Pay and prices
Inflation forecasts
Fourth quarter 2011
| RPI | RPI excluding mortgages | |
|---|---|---|
| Average | 5.0% | 4.9% |
| Oxford Economic Forecasting | 5.0% | 4.6% |
| ITEM Club | 4.9% | 4.7% |
Source: HM Treasury, Forecasts for the UK Economy, May 2011.
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