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Inflation: Key Economic Indicators

Published Tuesday, June 13, 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 2.9% in May 2017, up from 2.7% in April 2017. This is the CPI’s highest rate since June 2013.

The RPI inflation rate rose from 3.5% in April to 3.7% in May. This is the RPI’s highest rate since February 2012.

The increase in the CPI was primarily driven by recreation and culture (particularly games, toys and hobbies), offset by a fall in the costs of transport.

Inflation May 2017

Commons Briefing papers SN02792

Author: Philip Brien

Topics: Economic policy, Economic situation

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