According to the Office of National Statistics, the current rate of inflation continues to remain well above the government’s 2% target rate for a stable and growing economy. Since the end of 2009, the rate of inflation has risen significantly from 0% to 4.7% in August 2010 on one measure (the Retail Price Index (RPI)) and from 2% to 3.1% in the same period on the government’s preferred measure (the Consumer Price Index (CPI) which excludes housing costs).
search Unit (WERU), University of Hertfordshire. (Ref. 100671)
According to the Office of National Statistics, the current rate of inflation continues to remain well above the government’s 2% target rate for a stable and growing economy. Since the end of 2009, the rate of inflation has risen significantly from 0% to 4.7% in August 2010 on one measure (the Retail Price Index (RPI)) and from 2% to 3.1% in the same period on the government’s preferred measure (the Consumer Price Index (CPI) whic
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