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Inflation reaches 9.4%, but pay awards well behind

July 20, 2022


On a monthly basis, CPI rose 0.8%, according to the Office for National Statistics.

The retail prices index (RPI), which is no longer an official statistic but is used by many trade unions for pay bargaining, was 11.8%, up only slightly from 11.7% in May.

The increase in CPI inflation was mainly driven by rising fuel and food prices.

The CPIH, which includes owner occupiers’ housing costs, was 8.2% in June, up from 7.9% in May.

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