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Inflation: Key Economic Indicators

Published Tuesday, August 15, 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 2.6% in July 2017, the same rate as in June 2017, but down slightly from 2.9% in May.

The RPI inflation rate increased slightly from 3.5% in June to 3.6% in July. This is the RPI’s second highest rate since February 2012.

Although the overall CPI rate was unchanged, prices for transport in general and motor fuels in particular have continued to fall; this was offset by an increase in prices for some categories of food, clothing, and furniture and household goods.

Inflation

Commons Briefing papers SN02792

Author: Philip Brien

Topics: Economic policy, Economic situation

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