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Retail Price Index. In the United Kingdom, the Retail Prices Index or Retail Price Index [1] ( RPI) is a measure of inflation published monthly by the Office for National Statistics. It measures the change in the cost of a representative sample of retail goods and services . As the RPI was held not to meet international statistical standards ...
The change in the CPI over the 12 months to August 2008 was 4.7%, while the corresponding figure for RPIX (which excludes mortgage interest) was 5.2% and that for RPI (which includes mortgage interest) was 4.8%. The CPI, the RPIX, and the RPI are published monthly by the Office for National Statistics (ONS). A history of CPI and RPIX going back ...
Inflation targeting. In macroeconomics, inflation targeting is a monetary policy where a central bank follows an explicit target for the inflation rate for the medium-term and announces this inflation target to the public. The assumption is that the best that monetary policy can do to support long-term growth of the economy is to maintain price ...
The Bank of England’s chief economist has admitted that its forecasting model has become “unworkable” during Britain’s current inflation crisis.. Huw Pill conceded that the central bank ...
The Bank’s top economist Huw Pill acknowledged forecasts for inflation were ‘too low’, leading to mistakes in its decision-making Bank of England admits it made errors in inflation forecasts ...
The Bank of England downgraded its forecasts for UK economic growth Thursday and kept interest rates unchanged, even as it warned that the Israel-Hamas war could push up energy prices and ...
Monetary Policy Committee. The Monetary Policy Committee ( MPC) is a committee of the Bank of England, which meets for three and a half days, eight times a year, to decide the official interest rate in the United Kingdom (the Bank of England Base Rate ). It is also responsible for directing other aspects of the government's monetary policy ...
The Bank has forecast 0.4% growth for this period, which would mark the end of the recession at the end of last year. "It looks like it was by quite a long way the mildest recession," said Mr Bailey.