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Inflation: Key Economic Indicators

Published Wednesday, April 12, 2017

Inflation: Data on both the CPI and RPI inflation indices.

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The Consumer Prices Index (CPI) is the main measure of inflation. It is produced in line with international standards and is the measure used for the Bank of England’s 2% inflation target. The Retail Prices Index (RPI) is no longer classified as a National Statistic as the way it is calculated does not meet international standards. It is included here as it is well-known and is the longest running measure of inflation.

The CPI inflation rate was 2.3% in March 2017, unchanged from February 2017. This is the CPI’s highest rate since September 2013.

The RPI inflation rate fell slightly from 3.2% in February to 3.1% in March. This is the RPI’s second highest rate since September 2013.

The main contribution to the CPI increase came through rising costs for food, alcohol and tobacco and clothing and footwear.

These were partially offset by falls in prices for air fares and motor fuels.

Commons Briefing papers SN02792

Author: Dominic Webb

Topics: Economic policy, Economic situation

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