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Inflation: Key Economic Indicators

Published Wednesday, December 19, 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 2.3% in November 2018, the lowest that it has been since March 2017.

The RPI inflation rate was 3.2% in November 2018, the same level as in July 2018. 

The largest downward contributions to the CPI over the past year came from recreation and culture and transport (mostly motor fuel), partly offset by rises in the price of alcohol and tobacco and miscellaneous goods and services.

Commons Briefing papers SN02792

Author: Feargal McGuinness

Topics: Economic policy, Economic situation

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