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Inflation: Key Economic Indicators

Published Tuesday, November 14, 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 held steady at 3.0% in October 2017, the same rate as in September. This is the CPI’s highest rate since April 2012.

The RPI inflation rate increased to 4.0% in October, up from 3.9% in September. This is the RPI’s highest rate since December 2011.

Within the CPI rate, the cost of transport fell, mainly due to a decrease in fuel costs, as did the price of furniture and household goods. However, this was offset by increases in the price of food and recreation and culture.

Commons Briefing papers SN02792

Author: Philip Brien

Topics: Economic policy, Economic situation

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