What's the difference between the CPI and the RPI?
- Consumer Prices Index (CPI)- based on an EU-wide formula allowing direct comparison of the inflation rate in the UK against that in the rest of Europe.
- Retail Price Index (RPI) is an average measure of change in the prices of goods and services. Once published, it is never revised.
- RPI-X - this is RPI excluding mortgage costs. It was previously the target measure for the MPC with a symmetrical target of 2.5%
- RPI-Y - this is RPI with both mortgage costs and the impact of changes in taxation removed.