Q&A: Inflation changes

Image source, PA

The Office for National Statistics has decided not to make any fundamental change to the way it calculates the retail prices index (RPI).

It had been pondering whether or not to make the RPI rise more slowly, and bring it more in step with the slower moving consumer prices index (CPI).

Instead, in March 2013 it will launch an additional index called RPIJ, a new version of the RPI index but using the same methods as CPI for calculating average prices.

But it is not obvious that it will be used for anything.

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