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Inflation: Key Economic Indicators

Published Friday, June 15, 2018

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 2.4% in May 2018, unchanged from April - this is the lowest it has been since March 2017.

The RPI inflation rate fell to 3.3% in May 2018, down 0.1 percentage point from April.

The lack of change in the CPI rate was partly due to rises in the prices of motor fuels being offset by falls in the prices of recreational and cultural goods and services and household services.

Commons Briefing papers SN02792

Author: Philip Brien

Topics: Economic policy, Economic situation

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