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Inflation: Key Economic Indicators

Published Wednesday, August 15, 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 2.5% in July 2018, up slightly from 2.4% in June 2018.

The RPI inflation rate was 3.2% in July 2018, down from 3.4% in June.

The largest upward contribution to the CPI over the past year came from transport costs (of which the largest contributor was the cost of motor fuels), although this was offset somewhat by falls in prices for clothing and footwear.

CPI inflation

Commons Briefing papers SN02792

Author: Feargal McGuinness

Topics: Economic policy, Economic situation

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