PBR 03: Inflation move confirmed
Gordon Brown has confirmed in writing to the Bank of England that the UK's measure of inflation will switch from the Retail Price Index (RPIX) to the index of consumer prices (HICP).
Gordon Brown has confirmed in writing to the Bank of England that the UK's measure of inflation will switch from the Retail Price Index (RPIX) to the index of consumer prices (HICP).
He said it was a more effective measure and it took better account of consumer behaviour. He set a new inflation target of 2%.
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