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		The New Inflation Target: the Statistical Perspective Product   This paper sets out the statistical background to the Chancellor of the Exchequer's Pre-Budget Report announcement that the UK inflation target will be changed from one based on the Retail Prices Index excluding mortgage interest payments (RPIX) to one based on the Harmonised Index of Consumer Prices (HICP). Reflecting its new role as the main UK domestic measure of inflation for macroeconomic purposes, the National Statistician has decided that the UK HICP will in future be known as the "Consumer Prices Index" (CPI) in all National Statistics releases and publications. The CPI and the HICP will remain one and the same index. View more information about this product.   Office for National Statistics (ONS), One-off, Online edition, Contact: 020 7533 6262 (ONS Library) New Inflation Target - Executive summary (18Kb - Pdf) New Inflation Target - Full Text (351Kb - Pdf) Latest on: New Inflation Target (Web link) Guide to: Finding RPI Data (Web link) Guide to: Finding CPI/HICP Data (Web link) Guide to: Consumer Price Indices (CPI) Methodology (Web link) Consumer Price Indices (Web link)   Accessibility|FAQs and Contact Us|Terms & Conditions|Privacy Statement Link to us|Crown Copyright applies unless otherwise stated