One of the mysteries of the English language finally explained.
(in the UK) an index of the variation in the prices of retail goods and other items.
- ‘The current ‘headline’ rate of inflation, the retail price index - which includes housing costs - is currently 3.2%, meaning that house prices in those areas are falling in real terms.’
- ‘But by the time the retail price index starts to climb - and it may be some time before it does - it will be too late to protect your wealth.’
- ‘The change will not affect the payment of benefits, which will continue to be indexed to the retail price index.’
- ‘A student loan starts accruing interest from the moment it is borrowed, but the interest rate is pegged to the retail price index.’
- ‘What's more, house-price growth has easily outstripped inflation (rising prices) elsewhere, with the core retail price index up only 28% over the past ten years.’
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