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Inflation: Key Economic Indicators

Published Tuesday, February 13, 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 held steady at 3.0% in January 2018, the same level as in December 2017 and down slightly from 3.1% in November 2017.

The RPI inflation rate decreased to 4.0% in January 2018, down from 4.1% in December 2017. This had been the RPI’s highest rate since December 2011.

Some elements of CPI had downward effects on the rate, notably transport and food and non-alcoholic beverages; these were balanced out by upward contributions, mostly in recreation and culture.

Commons Briefing papers SN02792

Author: Philip Brien

Topics: Economic policy, Economic situation

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