RPIX


RPIX

RPIX is a measure of inflation in the United Kingdom, equivalent to the all items Retail Price Index (RPI) excluding mortgage interest payments.

It was the UK's target rate of inflation from October 1992 to December 2003. From June 1997, the Bank of England was given the task of setting interest rates to meet an inflation target of 2.5 per cent on the RPIX measure.

Mortgage interest payments were excluded from the inflation target because otherwise the Bank's behaviour would be distorted. Any rate rise from the Bank, aimed at bringing inflation lower, would have the side effect of raising interest payments on variable-rate mortgages, causing higher inflation on any broad measure such as RPI. Targeting RPI would thus create a vicious circle of higher rates, something avoided by using RPIX as the target.

In December 2003 the Bank's target measure was changed to the Consumer Prices Index, or CPI, and the target was set at 2 per cent.

The RPIX continues to be published each month by the Office for National Statistics (ONS).

ee also

Consumer price index, which provides an international overview

External links

* [http://www.statistics.gov.uk/cci/nugget.asp?id=19 Latest on inflation from the ONS]


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • RPIX — Индекс розничных цен  Великобритании за исключением выплат по ипотечным закладным. Является одним из основных показателей инфляции, на которые обращает внимание Банк Англии при принятии решений по кредитно денежной политике.   Словарь терминов и… …   Финансовый словарь

  • RPIX — [RPIX] (in full retail price index excluding mortgage interest payments) a measurement of ↑inflation which shows the change in the overall cost of goods and services bought by the average ↑household in Britain not including ↑mortgage interest… …   Useful english dictionary

  • RPIX — (in full retail price index excluding mortgage interest payments) a measurement of inflation which shows the change in the overall cost of goods and services bought by the average household in Britain not including mortgage interest payments. It… …   Universalium

  • RPIX — Rhone Poulenc Incorporated (Regional » Railroads) …   Abbreviations dictionary

  • RPIX — abbr. ROYAL PICTURES INC NASDAQ …   Dictionary of abbreviations

  • retail price index excluding mortgage interest payments — ➡ RPIX * * * …   Universalium

  • Consumer Price Index (United Kingdom) — For other uses, see Consumer price index. CPI, 1988 to present, 2005=100 …   Wikipedia

  • Consumer price index — CPI redirects here. For other uses, see CPI (disambiguation). A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor …   Wikipedia

  • Mervyn King (economist) — For other uses, see Mervyn King (disambiguation). Professor Sir Mervyn King GBE Governor of the Bank of England Incumbent Assumed office 1 July 2003 …   Wikipedia

  • Dnipropetrovsk — (Дніпропетровськ) Dnepropetrovsk (Днепропетровск) The twin towers on the south bank of the Dnieper River …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.