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Inflation: Key Economic Indicators

Published Wednesday, February 13, 2019

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 1.8% in January 2019, the lowest that it has been since January 2017.

The RPI inflation rate was 2.7% in January 2019, the lowest it has been since December 2016. 

The largest downward contributions to the CPI over the past year came from housing and household services, largely driven by a decrease in gas and elecricity prices.

Commons Briefing papers SN02792

Author: Feargal McGuinness

Topics: Economic policy, Economic situation

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