Retail Prices Index
Inflation measures - UK.
(RPI).
Historically, RPI was the primary measure of consumer price inflation in the UK, calculated as the change from month to month in the prices of a standard basket of retail goods and services.
RPI was superseded as the primary inflation measure in the UK by the Consumer Prices Index (CPI) and the (CPIH).
However, it continues to be calculated and published by the UK's Office for National Statistics.
See also
- Consumer Prices Index
- CPIH
- Limited Price Indexation
- Office for National StatisticsInflation measures.
(CPI).
1. UK.
The Consumer Prices Index is a measure of inflation in the UK, calculated as the change from month to month in the prices of a standard basket of consumer goods and services.
The UK's official measure of inflation index is the Consumer Prices Index including owner occupier's housing costs (CPIH). The CPIH is comprised of the CPI plus a measure of the costs associated with owner occupiers' housing (OOH).
The UK CPI replaced the Retail Prices Index (RPI).
The UK CPI was previously known as the Harmonised Index of Consumer Prices (HICP).
2. United States.
The Consumer Price Index is one of the leading inflation indices used in the US.
Its uses include the limited indexation of certain US pensions.
3.
More generally, a consumer prices index is a statistical estimate constructed using the prices of a defined sample of representative consumer items, such as goods and services, whose prices are collected periodically.
The index is compared to a base period to give an estimate of periodic inflation rates.
See also
- Cost of living adjustment
- CPIH
- Harmonised index of consumer prices
- Index numbers
- Inflation
- Inflation target
- Office for National Statistics (ONS)
- Output price index
- Personal Consumption Expenditures price index (PCE)
- Producer Price Index
- Retail Prices Index
- Services Producer Price Index
- Treasury inflation-indexed securities
