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Inflation jumps
Inflation as measured by the union-preferred Retail Price Index (RPI) rose to 1.6% in July, faster than the Consumer Price Index that includes owner-occupiers’ housing costs which rose to 1.1%.
It coincided with the end of a government consultation on reform of the RPI which the UNISON union fears could lead to the effective abolition of the RPI — an “act of vandalism” when compromises are available, the TUC warned.