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News
Inflation jumps
Annual price inflation almost doubled to 2.9% in April, measured by the Retail Prices Index. Influential in wage bargaining, RPI inflation has overtaken pay settlements monitored by LRD Payline, where the median increase is 2.0%.
Falls in consumer prices at the start of the pandemic are partly responsible, but bigger pay rises will now be seen as justified. The CPIH measure (including a housing element) rose from 1.0% to 1.6%.