Is RPI the same as inflation?
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The inflation rate is calculated from the prices of a range of different goods and services selected to represent average spending patterns in the UK. The Office for National Statistics monitors changes in these prices each month, and uses this to work out an average increase for the year. The different items in the ‘basket’ of goods and services are given different weights, so that things we spend more on, such as housing, motoring and food, are given more importance.
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Neither are 'fixed' as such one just looks lower than the other (and guess which the Government uses)
Knowledge Guide to the Retail Prices Index/Consumer Prices Index: Introduction
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I think you'll find that's CPI Les.. RPI is the higher rate of the two and reflects more accurately the true rate of inflation than the CPI. On that note ideally it's better to wage bargain using RPI, you'll get more cash in your pocket.
Neither are 'fixed' as such one just looks lower than the other (and guess which the Government uses)
Knowledge Guide to the Retail Prices Index/Consumer Prices Index: Introduction
Neither are 'fixed' as such one just looks lower than the other (and guess which the Government uses)
Knowledge Guide to the Retail Prices Index/Consumer Prices Index: Introduction
Les
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