Inflation rates to double

[VectraMan]

This was on the telly this morning. The government has decided not to mess with the RPI, despite it being condemned as "not meeting international standards" and have instead decided to add a new version of it called RPI-J, from the same data but using different maths. This is in addition to the new version of CPI, CPI-H which includes the cost of housing.

So now we have four different measures of inflation to choose from instead of just two.

BBC News - Inflation: No change to RPI calculation

[BrilloPad]

This was on the telly this morning. The government has decided not to mess with the RPI, despite it being condemned as "not meeting international standards" and have instead decided to add a new version of it called RPI-J, from the same data but using different maths. This is in addition to the new version of CPI, CPI-H which includes the cost of housing.

So now we have four different measures of inflation to choose from instead of just two.

BBC News - Inflation: No change to RPI calculation

So you mean the number of measures of inflation is to double - not the rate?

A pity really.....

[eek]

So you mean the number of measures of inflation is to double - not the rate?

A pity really.....

Given the fundamental flaw in the RPI calculation I think it would be near impossible to create an inflation formulae which gave a higher figure than RPI.

[Robinho]

They're all lies anyway.

In the long run this graph will tell you all you need to know.

[AtW]

That would make life hell for Bank of England - trying to pick the right inflation correctly to justify printing lots of money is not an easy job ...

[eek]

That would make life hell for Bank of England - trying to pick the right inflation correctly to justify printing lots of money is not an easy job ...

For highest inflation rates RPI will always win. And as its what pension funds and others are stuck with the BofE will continue to use it.

[BrilloPad]

That would make life hell for Bank of England - trying to pick the right inflation correctly to justify printing lots of money is not an easy job ...

They have hardly been taking any notice of the current measure of inflation.

[ctdctd]

That would make life hell for Bank of England - trying to pick the right inflation correctly to justify printing lots of money is not an easy job ...

They can just keep using their existing tried and tested system.

[AtW]

They can just keep using their existing tried and tested system.

FTFY

[Mich the Tester]

Oh tulip; now I have to choose between AtW and Robinho as resident eckonommick gooroo.