is the measure for increases or decreases in the Costs of living.

Measurement of the rate at which prices are rising i.e. inflation, calculated monthly by taking a sample of typical household goods and services.

(GB) or consumer price index (CPI) (US) - indices of inflation, weighted averages which measure the cost of essential goods and services.

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.

an index of changes in retail prices

A means to measure inflation based upon the price of a selection of family goods.

A measure of inflation. Each month the government goes shopping and buys everyday retail products - food, petrol, a film ticket, some electricity or a PlayStation. If the cost of the basket is higher than the previous month, inflation is occurring and the percentage increase is a measure of the rate of inflation.

The index used to measure changes in the price of regular household goods over a specific period.

Index that shows the movement of prices in the UK.

statistical measure of the changes in the prices at which retailers dispose of their goods to consumers or end-users relative to a base year.

The official measure of inflation calculated by weighting the costs of goods and services to approximate a typical family spending pattern.

A monthly indication of the average price changes to a particular 'basket' of consumer goods, and used as a general indicator of price inflation.

A broad basket of goods/services whose price is calculated monthly and which provides a broad measure of the level of inflation.

The measure of the rate of inflation in the United Kingdom, the retail price index calculates the cost of buying a standard basket of goods and expresses this as a percentage of the base year index. For example, when the base year is 100 and the current retail price index is 150, this indicates that prices have risen by 50% since the base year. Note, however, the constituents of the basket change over time to reflect consumer preferences. For example, LPs have been replaced by compact discs and pilchards by pasta sauce. The usual retail price index (the headline figure) takes into account mortgage interest payments, on the basis that this is a typical cost for a household. There are however two alternative RPI measurements. RPI(X) excludes the impact of mortgage interest payments while RPI(Y) excludes the impact of mortgage payments and indirect taxes, such as VAT.

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.

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.

Measurement of the monthly change in the average level of prices at retail, normally of a defined group of goods.