RPI inflation rises
Retail price inflation is up, while consumer price inflation is unchanged, the latest figures from the Office for National Statistics show.
The annual rate of inflation — as measured by the Retail Prices Index (RPI) — was up to 3.3% in March from 3.2% the previous month. As reported in issue 11 of Fact Service the RPI no longer meets the required standard for designation as a National Statistic.
The RPIJ is an improved variant of the RPI which is calculated using formulae that meet international standards. Under this new experimental measure, the annual rate of inflation was up to 2.7% in March from 2.6% in February.
Under the measure generally used by the coalition government — the Consumer Prices Index (CPI) — inflation was unchanged at 2.8% in March.
A new experimental measure of consumer price inflation, CPIH, is based on the CPI, but includes owner occupiers’ housing costs. Under this measure inflation was unchanged at 2.6%.
Price inflation
| % increase on a year earlier | ||||
|---|---|---|---|---|
| RPI1 | RPI | RPIX2 | CPI | |
| 2012 | ||||
| March | 240.8 | 3.6 | 3.7 | 3.5 |
| April | 242.5 | 3.5 | 3.5 | 3.0 |
| May | 242.4 | 3.1 | 3.1 | 2.8 |
| June | 241.8 | 2.8 | 2.8 | 2.4 |
| July | 242.1 | 3.2 | 3.2 | 2.6 |
| August | 243.0 | 2.9 | 2.9 | 2.5 |
| September | 244.2 | 2.6 | 2.6 | 2.2 |
| October | 245.6 | 3.2 | 3.1 | 2.7 |
| November | 245.6 | 3.0 | 2.9 | 2.7 |
| December | 246.8 | 3.1 | 3.0 | 2.7 |
| 2013 | ||||
| January | 245.8 | 3.3 | 3.3 | 2.7 |
| February | 247.6 | 3.2 | 3.2 | 2.8 |
| March | 248.7 | 3.3 | 3.2 | 2.8 |
1 Jan 1987=100
2 RPI except mortgage interest payment