Although it is still published as it continues to be used, RPI is no longer the principal measure of inflation of the UK, and the Consumer Prices Index (CPI) is now used more widely. In 2013, the ONS, determining that the formula used to calculate RPI did not comply with international ...
Like the Retail Price Index, the Consumer Price Index inflation rate also reached a recent peak in October 2022. In that month, prices were rising by 11.1 percent and did not fall below double figures until April 2023. This fall was largely due to slower price increases in key sectors such...
used: the arithmetic mean between the old and the new price is used in the RPI, while theCPIis calculated as a geometric mean. As a result, the RPI always produces higher inflation figures: in practice, the RPI grows annually by an average of 1.2 percentage points higher than the CPI. ...