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March 2010 retail prices index rate: 4.4%

The March 2010 retail prices index rate is 4.4%. This is up from 3.7% in February. There was significant upward pressure to the change in the RPI annual rate from housing. This was driven mainly by mortgage interest payments which rose by 0.7 per cent this year but fell by 6.3 per cent a year ago following February 2009’s half point decrease in the Bank rate. Within housing, there was also a large upward effect from house depreciation, which rose this year but fell a year ago.

The Government’s preferred measure of inflation, CPI, is at 3.4%, up from 3% in February.

 

In pay submissions the RMT will continue to emphasise that your financial commitments have increased at a much greater rate than inflation and your living standards have suffered as a result.

 

Full-time Average Weekly Earnings by Occupation

Labour Research has recently published an analysis of average full-time weekly earnings based upon the Annual Survey of Hours and Earnings 2008 (up-rated).

Occupation/Sector

Weekly Wage (£)

All workers

592.70

All male

651.30

All female

501.00

Managers

880.00

Professionals

793.50

Associate Professionals*

612.50

Admin & Secretarial

410.40

Skilled/craft

497.80

Services**

351.80

Sales

325.60

Operatives

460.60

Other manual jobs***

347.40

 

* Associate professionals includes technicians, nurses, police, firefighters, media/PR workers, train drivers, legal and finance workers and sales reps

** Services means personal service occupations such as care workers, travel assistants, hairdressers, caretakers

*** Other manual jobs includes farm workers, labourers, dockers, postal workers, porters, waiters and cleaners

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