Jeavons formula favoured
Inflation as measured by the Retail Price Index is expected to come down over the next twelve months, but you won't necessarily benefit from it in your pocket.
It's due to a change in the formula used to calculate RPI, introduced in April this year, which should see the disparity between monthly fluctuations in CPI and RPI narrow.
April figures show RPI decreased from 7.5% to 6.5%, while CPI dropped from 4.4% to 4%.
Government says the previous method used, the Carli formula, overstated the effects of price changes.
Policy and Reform Minister Chris Thomas says switching to the Jeavons formula should create a more accurate picture.
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