Retail Prices Index. An inflationary indicator that measures the prices of a representative sample of household goods and services. It is a general indicator which is used to measure the rise or fall in the cost of living.
Inflation, the tendency of prices to rise and keep on rising is measured in the U.K. by the so called 'Retail Price Index (RPI). This official measure is calculated each month by taking a sample of goods and services which the typical household might buy. Included are such items as food, heating, housing, household goods, bus fares and petrol.
This stands for Retail Prices Index.RPI is an average measure of change in the prices of goods and services bought by the majority of households in the UK. It is compiled and published monthly. Back to the Top
Retail price index. Measure of the level of consumer prices for goods. The inflation rate in the UK is the RPI's percentage increase usually compared with the same month the previous year. In the U.S. the same rate is the consumer price index.
Retail Prices Index. Measure of cost of living (inflation) in the UK. The most commonly-quoted version is RPIx which excludes mortgage interest rates. The RPI is a weighted average measure of change in the prices of goods and services bought by most households in the UK. It is compiled and published monthly eg food and drink, tobacco, housing, household goods and services, personal goods and services, transport fares, motoring costs, clothing and leisure goods and services. Random sampling of retail outlets is used to collect data.
Retail Prices Index. The most common monthly indicator of inflation. It measures the prices of a representative sample of household goods and services. In general it is an indicator of a rise or fall in the cost of living and is used as a yardstick for increases in wages, state benefits, tax allowances and so on. This monthly quoted figure is called the headline rate, whereas the underlying rate excludes mortgage interest costs.
The Retail Price Index (RPI) is used to calculate the value of certain state benefits. The RPI is based around the cost of approximately 600 consumer products (~150,000 price quotations are sampled) which are compiled by the Office for National Statistics. This provides a measure of price changes related to the cost of living to ensure that changes in the level of benefits are fair and realistic.
retail price index. Published monthly by the government and based on a selection of goods and services which measures increases and decreases in prices. It is used to calculate the indexation allowance for capital gains, although the allowance has been frozen on 5 April 1998. Also used to increase personal allowances and tax bands automatically, unless the Government overrules the increase.
retail price index. Measure of the level of shop prices for goods. The inflation rate is the RPI's percentage increase usually compared with the same month the previous year. In the US the consumer price index does a similar job.