Abstract
Here we introduce the measurement of changes in prices, and the key events which prompted the development of consumer price measurement in the United Kingdom and led to the Retail Prices Index (RPI). We discuss some of the important uses of the RPI, which have made it an essential component of economic management, and the effects of changes in the way prices are measured. More recently, the introduction and use of the Consumer Prices Index (CPI) has made debate around the measurement of inflation more contentious. We consider how this has polarised opinions, and highlight the need for a period of stability.
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Ralph, J., O’Neill, R., Smith, P.A. (2020). Introduction. In: The Retail Prices Index. Palgrave Pivot, Cham. https://doi.org/10.1007/978-3-030-46563-6_1
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DOI: https://doi.org/10.1007/978-3-030-46563-6_1
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Publisher Name: Palgrave Pivot, Cham
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